Fosun is one of China's most acquisitive conglomerates.
HNA, with $100 billion in assets, has been on an acquisition spree.
The moves reflect a broader push by China into financial services globally.
IPOs & Markets
The sale is expected to raise up to 10 billion yuan ($1.45 billion).
Allowing them to jump a long line of applicants and boost domestic bourses.
Chinese investors have come under greater regulatory scrutiny in the US.
Sanpower is in talks with several domestic institutional investors for contributions.
Morgan Stanley has received China securities regulator's approval to boost its stake in its Chinese securities venture to 49 percent.
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