Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Equity Capital Markets

Earlier in September <a href="https://www.smartkarma.com/entities/27439" target="_blank" data-smartkarma-citation="entities:27439:1">Fosun Tourism (1638664D HK)</a> filed a prospectus in preparation for listing in Hong Kong. Terms of the offering have not yet been disclosed, but recent media reports indicate the company may aim to raise as much as US$500-700 mn (HK$3.9-5.5 bn). 
The objectives of this note are four-fold:
<ol>
<li>To provide an overview of the company's history, its current operations, and its financials</li>
<li>To suggest the most appropriate peer comparisons in the region</li>
<li>To begin developing an approach to valuation</li>
<li>To answer the question, 'Is Fosun Tourism Group really a play on Chinese tourism?'</li>
</ol>
We will follow up with a second note on valuation once terms of the deal are released. A link to Fosun Tourism Group's prospectus dated September 3rd can be found at the end of this note.

Earlier in September Fosun Tourism (1638664D HK) filed a prospectus in preparation for listing in Hong Kong. Terms of the offering have not yet been disclosed, but recent media reports indicate the company may aim to raise as much as US$500-700 mn (HK$3.9-5.5 bn). 
The objectives of this note are four-fold:

To provide an overview of the company's history, its current operations, and its financials
To suggest the most appropriate peer comparisons in the region
To begin developing an approach to valuation
To answer the question, 'Is Fosun Tourism Group really a play on Chinese tourism?'

We will follow up with a second note on valuation once terms of the deal are released. A link to Fosun Tourism Group's prospectus dated September 3rd can be found at the end of this note.

Fosun Tourism IPO, Part 1: Back to the Beach With Club Med! | But Is This a 'China' Play?

Hong Kong

Fosun Tourism Group operates as a leisure focused integrated tourism group. The Company provides resorts management, tourism destinations development, and other related services. Fosun Tourism Group offers its services worldwide.

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Fosun Tourism (1992 HK)

Fosun Tourism IPO, Part 1: Back to the Beach With Club Med! | But Is This a 'China' Play?

Earlier in September Fosun Tourism (1638664D HK) filed a prospectus in preparation for listing in Hong Kong. Terms of the offering have not yet...

Daniel Hellberg

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)