Fosun to Raise $1.5 Billion to Fund Banking-Insurance Push

  • 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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