Portugal's Fidelidade says it decided not to move forward with Luz Saude’s IPO

FOSUN INTERNATIONAL

23/04/2024 14:59

LISBON, April 23 (Reuters) - Portuguese insurance
company Fidelidade, controlled by China's Fosun  0656.HK , said
on Tuesday it decided not to proceed with the initial public
offering (IPO) of its healthcare arm Luz Saude due to capital
markets instability and tensions in the Middle East.
   Fidelidade announced two weeks ago plans for an IPO of Luz
Saude on Lisbon's stock exchange, which would include selling a
minority stake and a capital increase of 100 million euros
($107.03 million).

($1 = 0.9343 euros)

 (Reporting by Sergio Goncalves;
Editing by Catarina Demony)
 ((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters
Messaging: sergio.goncalves.reuters.com@reuters.net))