Club Med owner Fosun files for Hong Kong IPO

Club Med owner Fosun said on August 28 that it had filed for an initial public offering in Hong Kong for the travel operator and related tourism-focused businesses.

The Chinese company said proceeds from the proposed listing would be used mainly to expand the group’s global resort network, improve vacation offerings and strengthen digital and AI capabilities.

Fosun acquired Club Med in 2015 and withdrew it from the Paris stock exchange. The new entity, with Club Med as its flagship, plans to operate about 85 resorts by 2030, according to the company.

Club Med currently has 69 resorts worldwide and has announced plans to reach 100 resorts by 2035.

Club Med chief executive Stephane Maquaire said the listing marked an important step in the group’s shareholding structure and would help accelerate its international development.