Fosun plans Hong Kong IPO for Club Med that could raise over $500 million, source says (updated)
19/05/2026 11:21
Updates with BNP Paribas' response in the fourth bullet By Yantoultra Ngui SINGAPORE, May 19 (Reuters) - Chinese conglomerate Fosun International 0656.HK is planning to list its holiday resort operator Club Med in Hong Kong in a deal that could raise more than $500 million, a source with knowledge of the matter said on Tuesday. The initial public offering could take place as early as the end of this year, or in early 2027, the source said. Proceeds are expected to help support Club Med's growth, the source added. Bloomberg first reported the news earlier on Tuesday, saying Fosun had hired BNP Paribas BNPP.PA, HSBC HSBA.L and JPMorgan JPM.N to work on the planned share sale. The source declined to be named as the matter was private. Fosun and Club Med did not immediately respond to Reuters' request for comment. BNP Paribas, HSBC and JPMorgan declined to comment. Fosun bought Club Med in February 2015 for about 917 million euros ($1.1 billion), according to previous filings. Fosun Tourism Group, which owns Club Med, listed in Hong Kong in 2018 and later pursued a take-private plan, according to previous filings. Founded in 1950, Club Med runs nearly 70 beach and mountain resorts in 25 countries, according to its website. It is known for all-inclusive holidays that cover rooms, meals, drinks and activities. ($1 = 0.8610 euros) (Reporting by Yantoultra Ngui. Editing by Sumeet Chatterjee and Mark Potter) ((Yantoultra.Ngui@thomsonreuters.com;))