Fosun International Ltd., controlled by Chinese billionaire Guo Guangchang, said it is investing in a filmmaker founded by the former president of Warner Bros Pictures Inc. to tap into growing demand in China.
Billionaire Guo Guangchang’s Fosun International Ltd. plans to raise as much as HK$5.18 billion ($669 million) in a rights offering for refinancing and general corporate purposes after its stock surged this year.
Fosun International Ltd., a Chinese company that last year took a stake in Greece’s Folli Follie Group, expects 2012 investments to surpass the as much as 30 billion yuan ($4.8 billion) it spent in 2011, its chairman said.
JPMorgan Chase & Co.’s deal to sell 1 Chase Manhattan Plaza to Fosun International Ltd. would be the largest purchase of a New York building by a Chinese buyer, showing Asian investors’ growing appetite for U.S. real estate.
Billionaire Guo Guangchang, chairman of Shanghai’s Fosun International Ltd., is seeking to expand the company’s U.S. commercial real estate investments after the acquisition of New York’s 1 Chase Manhattan Plaza.
Bonds of Nanjing Iron & Steel Co., partly owned by Chinese billionaire Guo Guangchang, are set for their worst month on record as concern mounts the government’s campaign to reduce smog and overcapacity may exacerbate losses.
Shanghai Fosun Pharmaceutical Group Co., a maker of modern drugs and traditional Chinese medicine, rebounded in Shanghai trading after the company’s parent denied speculation that its Chairman Guo Guangchang had been detained.