Club Med to return to the Stock Market

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Published on 05/07/18 - Updated on 17/03/22

Club Med will be back in the stock market

Three years after withdrawing from the Paris stock exchange following its acquisition by Fosun, Club Med is preparing to return indirectly to the stock market. 

Fosun International, owner of Club Med, received approval from the Hong Kong stock exchange to spin off its tourism and hotels unit, while the Chinese conglomerate seeks to expand its travel business globally. 

The Chinese conglomerate did not give a timeline for the spin-off and said that it was not assured, according to a statement to the stock exchange on July 4.

The proposed spin-off is not subject to shareholder approval.

IFR Asia reported earlier that Fosun was aiming for a listing valued at around $500 million and had appointed Citic CLSA Capital Markets, Citigroup and JPMorgan Chase & Co. for the IPO.

Qian Jiannong, Senior Vice President of Fosun International, said in May that trade tensions between China and the U.S. won’t affect demand for travel and vacations.

Also read: Fosun: a growing presence in tourism

Fosun is also still in discussions with Caisse des Dépôts and its subsidiary Compagnie des Alpes regarding a possible strategic partnership. "We are always open to collaboration in China," said Fosun president and co-founder Guo Guangchang in an interview with Echos.

Fosun includes resort operation, development and operation of Sanya Atlantis and other tourism destinations and tourism-related culture, performing arts, entertainment and travel products and related services. It also has a joint venture with British travel agency Thomas Cook Group in China.

Club Méditerranée

Club Méditerranée

Groupe hôtelier

  • Club Méditerranée France
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