Fosun Tourism Group, a unit of billionaire Guo Guangchang’s drugs-to-insurance conglomerate, plans to start taking investor orders Friday for a Hong Kong initial public offering of as much as USD 548 million.

The owner of luxury resort brand Club Med is offering 214.2 million shares at HK.60 to HK.00 apiece, according to a prospectus distributed at a media briefing Thursday. The company aims to price the deal December 7 and begin trading December 14, the prospectus shows.

The offering would add to the USD 33 billion of first-time share sales in Hong Kong this year, more than double the volume during the same period in 2017, data compiled by Bloomberg show.