Fosun Files For Hong Kong IPO Of Club Med Businesses

Fosun, the mainland owner of Club Med, said on Friday it has filed for an initial public offering in Hong Kong for the travel operator and its ClubMed Lifestyle and other tourism-focused businesses, according to RTHK reported. The company said proceeds from the proposed listing will be used mainly to expand its global resort network, upgrade vacation offerings and strengthen its digital and AI capabilities. Fosun withdrew Club Med from the Paris stock exchange after acquiring it in 2015. The new entity, with Club Med as its flagship, plans to operate about 85 resorts by 2030. Club Med currently has 69 resorts worldwide and has recently announced plans to open new sites to reach 100 resorts by 2035. Chief executive Stephane Maquaire said the listing marks an important step in the evolution of the group's shareholding structure and gives Club Med the means to accelerate its international development.