China National Biotech Group to Raise $1.6 Billion in Hong Kong IPO  
5/18/2012 11:31:09 AM

by Richard Daverman, PhD

May 18, 2012 -- China National Biotech Group (CNBG) expects to raise up to 10 billion RMB ($1.6 billion) in a Hong Kong IPO, according to sources. CNBH is one of many subsidiaries of the sprawling state-owned China National Pharmaceutical Group Corp (Sinopharm). Last November, Zhiping Song, Chairman of the parent company, said the IPO would take place in the first half of 2012, though at the time, he did not reveal the size of the offering. More details....