Fosun International (00656) said it plans to spin off Club Med Lifestyle Group for a separate listing on the main board of the Hong Kong Stock Exchange, according to ETNet.
The company said Club Med has already submitted its listing application through joint sponsors last Friday, August 28. Club Med Lifestyle operates high-end all-inclusive resorts and provides asset-light vacation scene services. Its application version of the prospectus is available on the exchange website.
Fosun International said the Hong Kong Stock Exchange has confirmed it may proceed with the proposed spin-off. If completed, the listing may constitute a discloseable transaction, and Club Med Lifestyle is expected to remain a subsidiary after the spin-off. Under Practice Note 15, Fosun plans to offer shareholders a guaranteed allocation of Club Med Lifestyle shares through a preferential application arrangement, although the terms have not yet been finalised.