King & Wood Mallesons on Fosun's $1.2B Share Sale
The Chinese conglomerate has raised funds to continue its acquisition spree in the insurance sector.
June 01, 2015 at 02:18 AM
1 minute read
King & Wood Mallesons has acted for Chinese conglomerate Fosun International Ltd. on a $1.2 billion share sale in Hong Kong.
Shanghai-based Fosun, which operates in the insurance, pharmaceuticals and real estate sectors, sold 465 million shares at $2.58 apiece.
According to Bloomberg, the company will use part of the money to fund further acquisitions in the insurance sector. Earlier this month, Fosun made a $1.8 billion bid for the 80 percent of U.S. insurer Ironshore Inc. that it does not already own, and last year bought Portugal's largest insurer, Caixa Seguros e Saúde, for $1.4 billion.
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