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Fosun International plans up to US$1.2b in HK share sale: term sheet

Monday, May 11, 2015 - 10:30
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The Chinese conglomerate founded by billionaire Guo Guangchang plans to sell US$1 billion of new shares, the terms showed.

[HONG KONG] Fosun International plans to raise up to US$1.2 billion in a Hong Kong share offering, according to a term sheet of the deal seen by Reuters on Monday.

The Chinese conglomerate founded by billionaire Guo Guangchang plans to sell US$1 billion of new shares, the terms showed. The shares are being offered in an indicative range of HK$19.48 to HK$20.32 each, a discount of up to 7 per cent to Friday's market close.

The share sale could increase by US$200 million if there is additional demand for the deal.

Trading of Fosun International shares was halted on Monday, according to a securities filing, which didn't disclose the reason for the suspension.

Citigroup, Goldman Sachs, Hani Securities, Morgan Stanley, UBS and CMBI were hired as joint bookrunners for the deal.

REUTERS