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China's Fosun plans $668 million rights issue for refinancing
April 10, 2014 / 12:41 AM / 4 years ago

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

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.

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

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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