November 8, 2011 / 2:41 AM / 9 years ago

CORRECTED-Sinopharm unit CNB plans $2 bln 2012 HK IPO - IFR

HONG KONG, Nov 8 (Reuters) - A subsidiary of state-owned Sinopharm Group, China’s largest pharmaceutical products distributor, plans to raise between $1.5 billion and $2 billion from an initial public offering in Hong Kong in the first half of 2012, IFR reported late on Monday.

The subsidiary, China National Biotec Group (CNB), is the world’s fourth-largest vaccine and blood products maker. Sinopharm Group is also the parent of Hong Kong-listed Sinopharm Group Co Ltd , which raised HK$10 billion ($1.3 billion) in an IPO in 2009.

China International Capital Corp (CICC), Morgan Stanley and UBS AG were hired to handle the IPO, said IFR, a Thomson Reuters publication, citing sources who could not discuss the matter publicly.

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