FOSUN INTL (00656.HK): Proposes spin-off and separate listing of Club Med Lifestyle on HKEX Main Board; listing application submitted
NewTimeSpace News: On 28 August 2026, Fosun International Limited (stock code: 00656) announced, pursuant to Practice Note 15 of the Listing Rules, that the Company has applied to the Stock Exchange of Hong Kong Limited (HKEX) for approval of the proposed spin-off and separate listing of the shares of its subsidiary, Club Med Lifestyle Group (a premium all-inclusive resort operator providing asset-light resort scenario services), on the Main Board of HKEX, and that HKEX has confirmed the Company may proceed with the proposed spin-off. The announcement noted that Club Med Lifestyle submitted a listing application through its joint sponsors to HKEX on 28 August 2026, and the application proof version of its listing document is available for viewing and download on the HKEX website.
According to the announcement, Club Med Lifestyle operates premium all-inclusive resorts and provides asset-light resort scenario services, and is a subsidiary of the Company; it is expected that Club Med Lifestyle will remain a subsidiary of the Company after the completion of the proposed offering. The details of the proposed offering have not been finalized, and the application proof is a draft version with incomplete information subject to material changes.
In terms of the Listing Rules, under Practice Note 15, if the proposed spin-off proceeds, the Company must give due consideration to the interests of its existing shareholders by offering them a guaranteed entitlement to shares in Club Med Lifestyle through preferential application, subject to certain conditions; based on information available as of the date of the announcement, the highest applicable percentage ratio of the proposed spin-off is expected to exceed 5% but be below 25%, and if it proceeds it is expected to constitute a possible discloseable transaction of the Company. The proposed spin-off is subject to, among other things, approval by the Listing Committee of HKEX for the listing and permission to deal in the shares of Club Med Lifestyle, and other applicable regulatory approvals, and is subject to market conditions and other factors, with no guarantee that such approvals will be obtained; shareholders and prospective investors should exercise caution when dealing in the Company's securities.
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