Corporate colossus Fosun – owner of the Club Med holiday chain – has joined Dalian Wanda as the second big-name Chinese conglomerate with a listed subsidiary to see shares drop close to 10 per cent today.
Hong Kong-listed Fosun International fell as much as 9.6 per cent in the afternoon session on Thursday before pulling back to be down 7.1 per cent at HK$11.58.
Shanghai Fosun Pharmaceuticals, the group’s mainland-listed pharma unit, also fell as much as 8.9 per cent in Shanghai before paring losses to be 7.3 per cent lower at Rmb30.40.
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