Fosun International plans up to $1.2 bln in HK share sale -term sheet

May 11, 2015 1:37 AM

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HONG KONG May 11 Fosun International plans to raise up to $1.2 billion in a Hong Kong share offering, according to a term sheet of the deal seen by Reuters on Monday.

The Chinese conglomerate founded by billionaire Guo Guangchang plans to sell $1 billion of new shares, the terms showed. The shares are being offered in an indicative range of HK$19.48 to HK$20.32 each, a discount of up to 7 percent to Friday's market close.

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