Fosun’s Portugal Hospital Company IPO to Raise EUR 100 million

 

China’s Fosun International Ltd. intends to advance with an IPO plan of Luz Saude, its Portuguese private healthcare provider, on Euronext, targeting to raise about EUR100 million, according to Bloomberg.

Stockholders of insurer Fidelidade, the Fosun unit that holds Luz Saude, approved the plan at a meeting at the end of last year, a Fidelidade spokesman said.

Shareholders also approved the sale of a minority stake in Luz Saude through a private placement of new stock, which would take place before the possible listing of the company’s shares on Euronext Lisbon, the spokesman said.

Fidelidade, Fosun and Hospital da Luz Promote Health Startups in Portugal

Luz Saude, whose 29 hospitals, clinics and nursing homes make it one of Portugal’s biggest private health-care providers, aimed at a valuation of about USD 1 billion.

The company was delisted from the Euronext Lisbon stock market in 2018 after Fosun bought most of the shares.

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