Fosun set to spin off tourism unit

Shanghai-based conglomerate eyeing separate listing in HK for subsidiary

Shanghai-based conglomerate Fosun International has filed to the Hong Kong stock exchange for a spinoff and separate listing for its tourism unit.

According to an announcement released by the Hong Kong-listed Fosun International Ltd on Aug 31, Fosun Tourism Group will apply for a listing on the main board of the Hong Kong stock exchange. Upon completion of the proposed spinoff and listing, Fosun International will retain no more than 75 percent equity interest in Fosun Tourism Group, which will remain a subsidiary of Fosun International.