Fosun to list tourism arm to raise US$500m; HK likely to be listing venue

Hong Kong

CHINESE conglomerate Fosun International is in talks with banks to list its tourism business, which includes French resort chain Club Med, to raise at least US$500 million, IFR reported on Thursday, citing people familiar with the situation.

Fosun Tourism & Culture Group includes a Chinese joint venture with tour operator Thomas Cook Group and a luxury hotel in Hainan province as well as Club Med, according to IFR, a Thomson Reuters publication.