Fosun is taking advantage of a doubling in its share price this year to raise as much as $1.2bn, which the acquisitive Chinese group says could be spent on future deals.
The group, the largest private conglomerate on the mainland, has spent more than $4bn so far this year on assets including a speciality insurer, a stake in Cirque du Soleil and finalising its takeover of Club Méditerranée, the French holiday group, among others.
Shares in Fosun International, the Hong Kong-listed unit through which most of its deals are done, have been among the best performers in the city this year, gaining 106 per cent before their trading suspension on Monday for the placement.
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