China’s Fosun Tourism Group seeks to raise $548 million in HK IPO

11/29/2018 9:00:00 PM (GMT)

Chinese leisure focused tourism company Fosun Tourism Group is planning to secure $548 million in Hong Kong (HK) initial public offering (IPO).

Fosun Tourism Group intends to raise funds for investing in its subsidiary, French vacation packages provider Club Med SAS.

The company is offering 214.2 million shares at $1.99 to $2.56 apiece. JPMorgan Chase & Co., CLSA Ltd. and Citigroup Inc. are joint sponsors for the offering.

Fosun Tourism Group intends to price the offering on December 7 and begin trading December 14.

Fosun Tourism Group

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