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Will Sinopharm and CITIC IPO?

publication date: Aug 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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