Will Sinopharm and CITIC IPO?

Published: Aug 27, 2008

August 27, 2008 -- Last week, The South China Morning Post reported that the China National Pharmaceutical Group (Sinopharm) and CITIC Pharmaceutical Group plan IPOs. The Sinopharm offering would raise up to $750 million. The article said Sinopharm’s IPO would take place in Q4, and the shares would be listed on the Hong Kong exchange. Sinopharm, a state-owned enterprise, is the largest pharmaceutical distribution company in China. Immediately after the item appeared, a spokesperson from Sinopharm denied the report, saying the company hopes to make an IPO eventually, but has not set a definite time. More details... Stock Symbol: (SH: 600511).

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