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Two Chinese Drug Makers Said To Plan IPOs Elsewhere

This article was originally published in PharmAsia News

Executive Summary

A Hong Kong newspaper reports two major Chinese drug makers plan to issue initial public offerings away from mainland China, one in Hong Kong, the other in New York. The South China Morning Post said the China National Pharmaceutical Group plans to issue an initial public offering later this year in Hong Kong to raise $750 million, while CITIC Pharmaceutical considers a $200 million offering in New York next year. China National, known as Sinopharm, would spin off its subsidiaries for distribution and manufacturing, both located in mainland China, the report said. (Click here for more
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