Fosun International Ltd, the flagship of the Chinese conglomerate that owns Club Mediterranee SA, signaled the company will announce information related to initial public offerings of its healthcare assets before the end of the year.
News about the matter and private-equity investments in healthcare assets should come out during the second half of the year, group Chairman Guo Guangchang said at a briefing on Wednesday in Hong Kong.
The conglomerate is parent to Shanghai Fosun Pharmaceutical Group Ltd, which trades in Hong Kong and the Chinese mainland.
Fosun is accelerating steps to improve its balance sheet, it said in an earnings statement on Tuesday, as it seeks to raise its junk credit rating to investment grade. The company reported a 21 percent increase in net income, as profit more than doubled at its investment businesses and industrial operations, offsetting a decline in earnings from insurance.
"Whether it is an IPO or private equity in the health sector, you will see us make some accomplishments in the second half," Guo said. "Fosun Group has never stopped pushing for the IPO of subsidiaries to enhance our liquidity."
The article transsshipment from China Daily