China's Fosun Tourism hits 14-month high on bid to go private By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 11 2024
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Source: Investing.com
Fosun Tourism Group's Share Buyback Proposal: Fosun Tourism Group announced a proposal to take itself private by buying back outstanding shares at HK$7.80 each, leading to an 81% surge in its stock price on Wednesday.
Controlling Shareholder's Role and Financial Struggles: Fosun International Ltd, which already owns 78% of Fosun Tourism, plans to acquire the remaining shares and de-list the company, amid ongoing efforts to manage high debt levels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
