Fidelidade Said to Be Worth at Least €3 Billion in Revived IPO

Fidelidade–Companhia de Seguros SA, the Portuguese insurer controlled by Chinese conglomerate Fosun International Ltd., is carrying out preliminary work toward a potential listing in Lisbon that could value the company at more than €3 billion, according to people familiar with the matter.

Portugal’s largest insurance company has in recent weeks held discussions with banks and potential investors about a possible initial public offering, the people said, asking not to be identified because the information is private. Fidelidade has yet to appoint financial advisers, they said, with a view to listing early next year.