Fosun to Raise $1.5 Billion to Fund Banking-Insurance PushBy
Chinese conglomerate proposes to raise HK$11.7 billion
Company has been snapping up insurers and properties worldwide
Fosun International Ltd., Chinese billionaire Guo Guangchang’s conglomerate that has bought insurers and real estate around the world, proposed raising HK$11.7 billion ($1.5 billion) in a rights offer to fund its push into the banking and insurance industries.
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