Fosun tries to quash rumours as shares fall

SHANGHAI • Chinese conglomerate Fosun saw shares in its listed units fall yesterday, prompting it to refute online rumours that it had lost contact with its chairman Guo Guangchang.

A statement said Mr Guo was in Shaanxi province. Shares in Fosun International, which has businesses including holiday firm Club Med, dropped 4 per cent in morning trade while Shanghai Fosun Pharmaceutical Group fell 7.5 per cent.

REUTERS

SoftBank 'to raise up to US$5b via bonds'

HONG KONG • Japan's SoftBank Group Corp is targeting raising between US$3 billion and US$5 billion (S$4 billion and S$7 billion) through an offering of US dollar bonds, said a person familiar with the plans.

A SoftBank spokesman said an issuance of hybrid bonds is under preparation.

REUTERS