Fosun applies for Ironshore IPO

Investment group Fosun International has applied to float its Bermuda-based insurer Ironshore on the New York Stock Exchange.

The application for an initial public offering (IPO) was sent to the Hong Kong Stock Exchange.

“The board of directors of the company would like to announce that the company has submitted an application under Practice Note 15 of the Listing Rules to seek approval of The Stock Exchange of Hong Kong for the proposed spin-off and separate listing on the New York Stock Exchange or NASDAQ Stock Market of Ironshore,” said the announcement.

Fosun completed its acquisition of Ironshore in November last year, acquiring the remaining 80 percent equity interest in the insurer.

Previously, Fosun completed the acquisition of 20 percent of Ironshore’s total ownership interest in February 2015.