AllBright Advises Fosun International on Share Issuance2014-05-233885
On May 23, 2014, Fosun International Ltd. (00656.HK) raised HK$4.888 billion by issuing 500,884,371 shares to existing shareholders at a price of HK$39.76 each.
Fosun International is one of the largest private conglomerate groups on the Chinese mainland. It owns several companies listed in China and overseas stock markets, such as Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and Yuyuan Shopping City. Fosun has established four business segments comprising insurance, industrial operations, investment and asset management. The share issuance will improve the company’s capital structure and bolster its financial strength.
AllBright partners Lawrence Zhu, Ark Bao, and Shen Cheng and associate Wells Chen formed the Chinese legal team for Fosun International. This is the second time that AllBright has advised Fosun International within this year following its H-share placement in April.