Funds News
- Fosun may form fund venture in HK
Date: 3-Aug-2007 Sources: (Shenzhen Daily)
FOSUN International Ltd., China's largest diversified company outside State control, may set up a fund venture and Saudi Prince Alwaleed bin Talal is being considered as a possible partner, a company official said Thursday.
Fosun may form a joint venture with private-equity firms and other asset managers in Hong Kong as an alternative to raising funds on the stock market, said Roger Law, deputy chief financial officer of the Shanghai-based company. 'The idea is still at a conceptual stage and very far from the implementation yet,'' Law said. He declined to comment on whether Fosun had approached Alwaleed, ranked by Forbes magazine as the world's 13th-richest person. Fosun, co-founded by the nation's ninth-richest person Guo Guangchang, has invested in businesses including drugmaking, steel, mining and financial services.
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