Fosun Tourism falls most on record after major shareholder's stake sale report

Fosun Tourism

06/09/2022 03:21

** Shares of resort operator Fosun Toursim Group  1992.HK 
drop as much as 17.3% to HK$8.34, the biggest intraday pct
decline since debut in December 2018
    ** Stock hit the lowest since February 2021 and on course
for a fourth straight session of fall; biggest pct decliner in
Hang Seng Composite Index  .HSCI  
    ** Fosun International  0656.HK  has raised HK$240 mln 
($30.6 mln) from a sell-down of 28 mln shares in Fosun Tourism
at a fixed price of HK$8.57, or a 15% discount to Monday's close
of HK$10.08 each, IFR reported  urn:newsml:reuters.com:*:nIfpbnkpk8
    ** Shares of Fosun International  0656.HK  fall 2.2%, and on
track for a third consecutive session of losses
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.3%,
while Hang Seng Composite Index  .HSCI  and the benchmark Hang
Seng Index  .HSI  climb 0.1% each
    ** As of last close, the stock of the Shanghai-based Fosun
Tourism down 3.8% this year, while Fosun International down
35.6%
    ($1 = 7.8490 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))