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The latest update is out from Fosun International ( (HK:0656) ).
Fosun International has provided an update on its planned spin-off and separate listing of the Atlantis Sanya resort business in mainland China via a commercial real estate REIT on the Shanghai Stock Exchange. The company has received notices of acceptance from the China Securities Regulatory Commission and the Shanghai Stock Exchange, indicating that the application process for the REIT offering is progressing smoothly.
The spin-off will be executed through a new project company, Sanya Fosun Tourism Management Co., Ltd., whose equity will be transferred into a fund using a “public fund + ABS plan” structure managed by CPIC Fund Management and Pacific Asset Management. Hainan Atlantis Commercial and Tourism Development, a Fosun subsidiary, is expected to remain deeply involved by operating the Atlantis Sanya asset under a management agreement and subscribing for at least 20% of the REIT units, supporting Fosun’s goal of optimizing its capital structure and unlocking the operational value of its core tourism asset, although the listing remains subject to regulatory review and approval.
The most recent analyst rating on (HK:0656) stock is a Hold with a HK$4.00 price target. To see the full list of analyst forecasts on Fosun International stock, see the HK:0656 Stock Forecast page.
More about Fosun International
Fosun International Limited is a Hong Kong-listed conglomerate with significant operations in tourism and leisure through its subsidiary Fosun Tourism Group. The group develops and operates large-scale resort and entertainment assets, including the Atlantis Sanya resort in Hainan, targeting China’s domestic tourism market and international visitors seeking premium destination experiences.
YTD Price Performance: -5.71%
Average Trading Volume: 24,001,776
Technical Sentiment Signal: Sell
Current Market Cap: HK$33.65B
For an in-depth examination of 0656 stock, go to TipRanks’ Overview page.