Deals
Sinopharm Renews Pursuit of Possible China TCM Buyout
- Considerations follow an abandoned take-private bid in 2022
- Hong Kong-listed China TCM’s market value is about $2 billion
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China National Pharmaceutical Group Co. is considering potentially taking China Traditional Chinese Medicine Holdings Co. private, according to people familiar with the matter, having abandoned a previous attempt to do so in 2022.
The company known as Sinopharm has contacted banks about financing, the people said, asking not to be identified discussing confidential information. Sinopharm, which holds a stake of about 32% in Hong Kong-listed China TCM, may also team up with other investors, one of the people said.