According to sources acquainted with the situation, Taibang Biologic Group (NASDAQ:CBPO), a manufacturer of plasma-derived biopharmaceutical products, has chosen banks for an initial public offering in Hong Kong.
The Beijing-based company, formerly known as China Biologic Products Holdings and listed in New York until 2021, is collaborating with China International Capital Corp. and JPMorgan Chase & Co. on the proposed share sale, according to unnamed people with knowledge of the matter. The offering may occur as early as next year, and the company’s valuation might reach $6 billion, they claimed.
One of the individuals stated that an IPO may garner several hundred million dollars. The ultimate terms of the transaction would depend on market conditions, according to the sources. A relisting in Hong Kong could occur after a consortium composed of Centurium Capital, Citic Capital, Hillhouse Capital, and Temasek Holdings Pte took the firm private in a $4.8 billion transaction announced in 2020 and finalized the following year. In 2009, the company made its Nasdaq debut.
The funding amount, valuation, and timing are still subject to change, according to the sources. CICC and JPMorgan representatives declined to comment, while Taibang (NASDAQ:CBPO) did not immediately reply to calls for comment. The company stated on WeChat on August 2 that it had raised $300 million from investors including Platinum Orchid, a subsidiary of the Abu Dhabi Investment Authority, and the Singaporean sovereign wealth fund GIC Pte.
According to its website, Taibang (NASDAQ:CBPO), which was created in 2002, distributes plasma products such as albumin, immunoglobulin for intravenous injection, and coagulation factor products. It has three manufacturing facilities in China and a range of ten plasma-derived products spanning over twenty specifications.
About Taibang
Taibang Biologic Group (NASDAQ:CBPO) (“Taibang”), founded in 2002, is a renowned Chinese biopharmaceutical firm that offers an extensive selection of plasma-derived medicines. The discovery, manufacture, and sale of plasma-derived products and other biopharmaceutical goods comprise the company’s core business.
As a market leader in China’s plasma-derived products industry, Taibang (NASDAQ:CBPO) possesses leading worldwide technology, one of Asia’s largest plasma-derived goods manufacturing capacities, and world-class R&D capabilities. The company’s market-leading product line now consists of ten plasma-derived products encompassing over twenty specifications in three primary categories: human albumin, human immunoglobulin, and human coagulation factors.
The non-plasma-derived products business division of Taibang (NASDAQ:CBPO) encompasses a vast array of products, such as artificial dura, artificial spinal dura, artificial nerve conduits, and anti-adhesion membranes for tendons.
Taibang (NASDAQ:CBPO) was listed on the Nasdaq Stock Market under the symbol “CBPO” in 2009. Taibang has become a leading multinational biopharmaceutical corporation throughout its many years in business. The approximately $4.8 billion privatization of Taibang (NASDAQ:CBPO) was accomplished in April 2021 with the assistance of a number of well-known investment funds.
Taibang (NASDAQ:CBPO) is focused on utilizing cutting-edge R&D to make products that set the bar for quality, safety, and efficacy. The company’s objective is to provide quality medications that serve humanity, and its dedication is to excellence and innovation.
Featured Image: Megapixl @Pvl
