Chinese conglomerate Fosun International is reportedly discussing plans to list its tourism division in an IPO.
It is in talks with investment banks to raise at least US$500 million, Reuters reports.
The Fosun Tourism & Culture Group, known as the ‘Happiness Unit’ includes global resort operator Club Med, and a joint venture with tour operator Thomas Cook Group.
The new luxury Atlantis Resort Hotel in Sanya, Hainan province is also part of the business.
It could go for an IPO next year and list on the Hong Kong exchange, said Reuters, citing people familiar with the matter.
The Happiness unit reported first half profits of 516 million yuan.
