Chinese conglomerate Fosun International Ltd said it is planning a rights issue worth up to HK$5.18 billion ($668.1 million), seeking capital for refinancing and for general corporate purposes.

The insurance-to-industrial operation group will issue up to 531.1 million rights shares, with 39 rights shares allotted for every 500 existing shares held, it said in a filing to the Hong Kong bourse late on Wednesday.

The rights shares will be issued at HK$9.76 each, which was the shares' last closing price.

Last week, a German daily cited Fosun Chairman Guo Guangchang as saying the company is interested in acquiring German companies in the environment technology sector.