FOSUN International Ltd, China's biggest diversified company outside state control, misstated borrowings by 4.6 percent in its initial public offering document, according to a company statement.
The Shanghai-based company, whose US$1.5 billion Hong Kong share sale drew Saudi Prince Alwaleed bin Talal and Asia's richest man, Li Ka-shing, said short-term borrowings and the current portion of long-term borrowings at the end of April should be 13.58 billion yuan (US$1.8 billion), instead of a previously stated 12.98 billion yuan.
"The company confirms that the discrepancies between the figures stated in the prospectus and the figures stated in this announcement are due to a different treatment of the current portion of long-term borrowings under the management accounts of the company," the statement said.
The error on the sale document resulted in a 2.4 percent increase in the company's total current liabilities to 25.76 billion yuan, Bloomberg News reported.