BREAKINGVIEWS-Hong Kong bankers make lemonade out of delistings

Reuters

01-15

BREAKINGVIEWS-Hong Kong bankers make lemonade out of delistings

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Katrina Hamlin

HONG KONG, Jan 15 (Reuters Breakingviews) - Club Med owner Fosun Tourism plans to take itself private, capping a record year of similar deals in a city thirsty for large IPOs. It helps the company's ailing parent and hard-up shareholders get a decent premium. For financiers too, the trend is bittersweet.

Full view will be published shortly.

Follow @KatrinaHamlin on X

CONTEXT NEWS

Hong Kong-listed Fosun Tourism has proposed to buy back its shares that are not owned by its controlling shareholder, Fosun International, according to an exchange filing on Dec. 10.

Fosun Tourism will buy back the outstanding shares at HK$7.80 each, a 95% premium to their last close, or alternatively minority shareholders can exchange their shares for a stake in the new unlisted entity.

The shares closed at HK$7.40 each on Jan. 7.

Graphic: Hong Kong take-privates outstrip listings in 2024 https://reut.rs/407gg6z

(Editing by Una Galani and Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on HAMLIN/katrina.hamlin@thomsonreuters.com; Reuters Messaging: katrina.hamlin.thomsonreuters.com@reuters.net))

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

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The opinions expressed are her own.</p><p>By Katrina Hamlin</p><p><span>HONG KONG, Jan 15 (Reuters Breakingviews)</span><span> - </span>Club Med owner Fosun Tourism plans to take itself private, capping a record year of similar deals in a city thirsty for large IPOs. It helps the company's ailing parent and hard-up shareholders get a decent premium. 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