Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/news/2011-11-08/china-national-biotec-said-to-plan-2-billion-hong-kong-ipo.html

Bloomberg News

China National Biotec Said to Plan $2 Billion Hong Kong IPO

November 08, 2011

Nov. 8 (Bloomberg) -- China National Biotec Group, a unit of Sinopharm Group Co., plans to seek as much as $2 billion in an initial public offering in Hong Kong, two people with knowledge of the matter said.

The company has hired China International Capital Corp., Morgan Stanley and UBS AG to manage the IPO and aims to start trading in the first half of next year, said the people, who declined to be identified because the information is private.

National Biotec, based in Beijing, is the largest biotechnology company in China and the fourth-biggest vaccine maker in the world, according to the company’s website. It has about 8.6 billion yuan ($1.4 billion) of assets and annual sales of more than 5 billion yuan, the website shows.

Two calls made to the general line at Sinopharm’s Beijing offices and two calls made to the general line at Sinopharm’s Shanghai offices went unanswered. Reuters reported the IPO plan earlier today, citing unidentified people.

--With assistance from Natasha Khan in Hong Kong. Editors: Philip Lagerkranser, Nathaniel Espino

To contact the reporter on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus