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China's 'Blackstone' launches $1.4bn IPO

Fosun International, the Chinese buyout group hailed as the "Chinese equivalent of Blackstone" by analysts, has attracted high interest for its $1.4bn (€1.0bn) initial public offering after Li Ka-Shing, Asia's richest man, was one of several Hong Kong tycoons to express interest.

Fosun, which is owned by billionaire Guo Guangchang, "has major investments in several very successful listings. The market perception is that they have the Midas' touch", according to analysts reported by Bloomberg.

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