China’s Fosun Tourism Group has raised $428 million in its Club Med holiday business initial public offering (IPO), pricing shares at the bottom of a marketed range, people close to the deal said.
Fosun Tourism, part of conglomerate Fosun International Ltd , sold 214.2 million shares at HK$15.60 ($2.00) each, the people said, the bottom of an indicative range of HK$15.60 to HK$20.00.
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