China’s Fosun Raises $1.2 Billion For Acquisitions

Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange.

It is offering the shares through a placing of 465 million new shares at HK$20 apiece, a discount of less than 5% to the stock’s prior trading price. The new shares represent 6.2% of the group’s enlarged capital. Fosun says that the new cash will improve liquidity, and be used to fund further acquisitions.

With interest that span insurance, pharmaceuticals and property, Fosun has recently made a strong push into entertainment and lifestyle. Last year it also expanded its stake in Chinese film distributor Bona Film Group to 20%, and last month revealed that it was starting up a film production unit. It also bought control of Club Mediterranee, the French holidays and tours group.

More Biz

  • STX Targeting August IPO in Hong

    STX Targeting August IPO in Hong Kong (Report)

    Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange. It is offering the shares through a placing of 465 million […]

  • EXCLUSIVE: AR for US, UK and

    Pussy Riot Claims Responsibility for People Running Onto Field During World Cup

    Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange. It is offering the shares through a placing of 465 million […]

  • Former Billboard CEO Accused of Sexual

    Former Billboard CEO John Amato Accused of Sexual Harassment and Other Misconduct

    Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange. It is offering the shares through a placing of 465 million […]

  • Instagram

    Instagram Suffers Global Outage

    Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange. It is offering the shares through a placing of 465 million […]

  • Harvey Weinstein arrives to court in

    Harvey Weinstein Attorney Says He Was Misquoted in 'Roles for Sex' Interview

    Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange. It is offering the shares through a placing of 465 million […]

  • hearst logo

    Hearst Agrees to Pay $50 Million to Settle Data-Privacy Lawsuit

    Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange. It is offering the shares through a placing of 465 million […]

  • Randall Stephenson

    AT&T Stock Drops on Justice Department's Appeal of Time Warner Merger Ruling

    Fosun International, the Chinese conglomerate which recently bought stakes in Cirque du Soleil and Jeff Robinov’s Studio 8, is adding $1.2 billion to its acquisitions capacity. The company is raising the cash through the issue of new shares on the Hong Kong Stock Exchange. It is offering the shares through a placing of 465 million […]

More From Our Brands

Access exclusive content