Chinese conglomerate Fosun International is planning to list its holiday resort operator Club Med in Hong Kong in a deal that could raise more than $500 million, a source with knowledge of the matter said on Tuesday.
The initial public offering could take place as early as the end of this year, or in early 2027, the source said. Proceeds are expected to help support Club Med‘s growth, the source added.
Bloomberg first reported the news earlier on Tuesday, saying Fosun had hired BNP Paribas, HSBC and JPMorgan to work on the planned share sale.
The source declined to be named as the matter was private.
Fosun and Club Med did not immediately respond to Reuters’ request for comment. BNP Paribas, HSBC and JPMorgan declined to comment.
Fosun bought Club Med in February 2015 for about 917 million euros ($1.1 billion), according to previous filings.
Fosun Tourism Group, which owns Club Med, listed in Hong Kong in 2018 and later pursued a take-private plan, according to previous filings.
Founded in 1950, Club Med runs nearly 70 beach and mountain resorts in 25 countries, according to its website. It is known for all-inclusive holidays that cover rooms, meals, drinks and activities.
Reuters
