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Club Med owner Fosun Tourism looks to raise $548 million in Hong Kong IPO

11/30/2018| 10:24:04 AM| 中文

The company aims to price the deal December 7 and begin trading December 14, the prospectus shows.

Fosun Tourism Group, a unit of billionaire Guo Guangchang’s drugs-to-insurance conglomerate, plans to start taking investor orders Friday for a Hong Kong initial public offering of as much as USD 548 million.

The owner of luxury resort brand Club Med is offering 214.2 million shares at HK$15.60 to HK$20.00 apiece, according to a prospectus distributed at a media briefing Thursday. The company aims to price the deal December 7 and begin trading December 14, the prospectus shows.

The offering would add to the USD 33 billion of first-time share sales in Hong Kong this year, more than double the volume during the same period in 2017, data compiled by Bloomberg show. 

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TAGS: Fosun | IPO
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