Hong Kong’s Fosun International (0656) said on Thursday it intends to spin off its luxury resort, Atlantis Sanya, and list it on the Shanghai Stock Exchange as a real estate investment trust.
Reuters reported in 2024 that the company was looking to sell all or part of its luxury resort in southern China as part of its efforts to reduce debt, citing sources.
As of 30 June 2025, the group’s total debt stood at 222.1 billion yuan (HK$251.5 billion), higher than the figure reported at the end of December 2024.
Fosun said on Thursday that it will use Atlantis as the underlying asset of the fund, to be listed as a Chinese commercial property REIT.
The Hong Kong Stock Exchange has granted a waiver to Fosun, allowing the spinoff to proceed without providing existing shareholders with an assured entitlement to the new REIT units, according to regular rules.
The company added that the proposed listing remains conditional on the approval of the China Securities Regulatory Commission and the Shanghai Stock Exchange.
Fosun’s board of directors is scheduled to meet on March 30 to declare the annual results for the year ended December 31, 2025.
Reuters
