Fosun's Portuguese hospital operator set to go public

Luz Saude, the Portuguese hospital operator ultimately controlled by China's Fosun International (0656), plans to go ahead with what may be Portugal's first initial public offering in three years.

The offering to institutional investors will consist of newly issued ordinary shares and existing shares held by parent firm Fidelidade, expected to raise gross proceeds of about EUR100 million (HK$851 million), Lisbon-based Luz Saude said in the "intention to float" statement on its website yesterday.

In Hong Kong, Chinese milk tea chain operator Sichuan Baicha Baidao, which owns the brand Cha Panda, may debut in the city as early as this month, aiming to raise US$300 million (HK$2.34 billion).

Meanwhile, bubble tea chain Chagee is reported to be planning to go public in the United States to raise up to US$300 million.