Fosun International Proposes Share Buy-back of FTG

Fosun International (HK:0656) has released an update.

Fosun International is proposing a share buy-back of Fosun Tourism Group through a scheme of arrangement, which will cancel the FTG Scheme Shares for a cash price of HK$7.80 each. If successful, the company will own approximately 98.44% of FTG, leading to its delisting from the Hong Kong Stock Exchange. Investors are advised to exercise caution as the proposal’s implementation is subject to certain conditions.

For further insights into HK:0656 stock, check out TipRanks’ Stock Analysis page.