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Fosun International: Listing Status of FTG No Longer Provides Meaningful Access to Capital
Fosun International: FTG to Finance Plan Via Internal Cash Resources And/or External Debt
Fosun International: Maximum Amount Payable to Implement Plan in Full Will Be HK$2.34B
Fosun International: Fosun Tourism Group Plans to Buy Back Shares, Delist
Fosun International: FTG to Offer HK$7.80 Apiece for Shares
"Re-listed" FOSUN TOURISM (01992.HK) offers a buyback at 7.8 HKD per share and plans to withdraw its listing status.
FOSUN TOURISM (01992.HK) announced a proposal to repurchase company shares through an agreement arrangement, with a cash price of 7.8 yuan per share, which is a 95% premium compared to the last trading price before suspension, involving approximately 2.122 billion yuan, intended to be funded through internal cash resources and/or external debt financing. After the plan takes effect, FOSUN INTL (00656.HK) and SingHoldings will hold approximately 98.44% and 1.56% of the company's equity, respectively, and the company's shares will have their listing status on the Stock Exchange revoked. The company's shares have applied to resume trading on Wednesday (the 11th).
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