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Chinese Conglomerate Fosun Under Scrutiny as Bonds, Shares Slide

  • Attention turns to asset sale plans ahead of debt maturities
  • Fosun said regulator didn’t ask banks to check their exposure
Updated on

Investors are stepping up scrutiny of Fosun group, one of China’s largest private-sector conglomerates, as it faces as much as about $8 billion in bond repayments through 2023 following signs of distress in credit markets.

Some of Fosun’s dollar bonds were on pace for record lows Wednesday, falling as much as 6 cents after day-earlier declines that were the biggest since a rout in June, when broader fears of contagion from a crisis in China’s property debt flared. Shares of Fosun International Ltd., the group’s most-important arm, dropped to a decade low.