China's Fosun plans $668 million rights issue for refinancing

HONG KONG Wed Apr 9, 2014 8:40pm EDT

China's Fosun International Ltd Vice Chairman and CEO Liang Xinjun listens during the Forbes Global CEO Conference in Kuala Lumpur September 13, 2011. REUTERS/Bazuki Muhammad

China's Fosun International Ltd Vice Chairman and CEO Liang Xinjun listens during the Forbes Global CEO Conference in Kuala Lumpur September 13, 2011.

Credit: Reuters/Bazuki Muhammad

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HONG KONG (Reuters) - Chinese conglomerate Fosun International Ltd (0656.HK) said it is planning a rights issue worth up to HK$5.18 billion ($668.1 million), seeking capital for refinancing and for general corporate purposes.

The insurance-to-industrial operation group will issue up to 531.1 million rights shares, with 39 rights shares allotted for every 500 existing shares held, it said in a filing to the Hong Kong bourse late on Wednesday.

The rights shares will be issued at HK$9.76 each, which was the shares' last closing price.

For the full statement, please click (link.reuters.com/zah48v)

Last week, a German daily cited Fosun Chairman Guo Guangchang as saying the company is interested in acquiring German companies in the environment technology sector.

($1 = 7.7531 Hong Kong Dollars)

(Reporting by Donny Kwok; Editing by Edwina Gibbs)

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