Fosun raises equity to ease debt concerns

Stock market darling raises $1.2 billion from a top up placement to mollify the rating agencies and fund the purchase of a US insurer.

Fosun raises equity to ease debt concerns

Fosun International raised HK$9.3 billion $1.2 billion from an accelerated top up placement on Monday night to help fund the acquisition of US insurer Ironshore Holdings and remove potential pressure on its credit ratings. 

The negative ratings overhang has been sparked by its latest acquisition, the $1.84 billion to $2.1 billion purchase of the remaining 80% of Ironshore it does not already hold. Over the past two-years, China's largest privately...

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