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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Fosun International Limited    0656   HK0656038673

FOSUN INTERNATIONAL LIMITED

(0656)
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End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 09/20
10.46 HKD   0.00%
09/20NEWS HIGHLIGHTS : Top Company News of the Day
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09/20NEWS HIGHLIGHTS : Top Company News of the Day
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09/20FOSUN INTERNATIONAL : Tour operator Thomas Cook in race to avoid bankruptcy
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Fosun International : Thomas Cook in talks for a fresh £150m cash grab

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08/13/2019 | 01:11am EDT

THOMAS Cook has confirmed it is in advanced discussions with bond holders for a £150m cash injection, on top of the £750m rescue deal it is already working on with lead investor Fosun, which would nearly wipe out its existing shareholders.

The company's market value dropped 18.3 per cent yesterday. Shares were valued at just 7.9p after the announcement, having started 2019 at 33p.

The money will help the embattled travel giant stay afloat over the quieter winter period.

Last month, the 178-year-old tour operator began talks with Fosun for a £750m rescue that would give the Chinese conglomerate control over the firm's package tour business.

Yesterday, Thomas Cook said it had made significant progress towards finalising the agreement.

The Fosun deal would involve the Chinese firm, plus Thomas Cook's banks and bondholders, converting a large chunk of the travel firm's £650m bank debt and €1.15bn (£1.1bn) bond debt into equity.

Existing shareholders are "expected to be significantly diluted" as a result of the deal.

Thomas Cook said it hopes to go ahead with the recapitalisation in October.

Analyst at CMC Markets David Madden said: "The company can't seem to get a handle of its finances, and the timing isn't great given that some people are curtailing non-essential expenditure such as travel."

In a statement, the firm told markets: "Thomas Cook has made significant progress towards finalising the key transaction terms of the recapitalisation with Fosun, the group's core lending banks and subsequently with noteholders representing approximately 50 per cent of the company's 2022 and 2023 senior notes.

"This additional capital will provide further liquidity headroom through the coming 2019/20 winter cash low period."

(c) 2019 City A.M., source Newspaper

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Financials (CNY)
Sales 2019 121 B
EBIT 2019 26 591 M
Net income 2019 14 946 M
Debt 2019 71 691 M
Yield 2019 3,81%
P/E ratio 2019 5,29x
P/E ratio 2020 4,90x
EV / Sales2019 1,26x
EV / Sales2020 1,35x
Capitalization 80 842 M
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Technical analysis trends FOSUN INTERNATIONAL LIMITE
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 12
Average target price 14,44  CNY
Last Close Price 9,46  CNY
Spread / Highest target 80,1%
Spread / Average Target 52,6%
Spread / Lowest Target 13,6%
EPS Revisions
Managers
NameTitle
Qun Bin Wang Chief Executive Officer & Executive Director
Qi Yu Chen Co-President & Executive Director
Xiao Liang Xu Co-President & Executive Director
Guang Chang Guo Chairman
Can Wang Chief Financial Officer, Executive Director & SVP
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