Sinopharm offers to take China-TCM private in nearly $3 bln deal

China Traditional Chinese Medicine Holdings

21/02/2024 12:30

Feb 21 (Reuters) - China National Pharmaceutical Group
has revived a take-private bid for China Traditional Chinese
Medicine Holdings  0570.HK , valuing the Hong-Kong listed
drugmaker at HK$23.16 billion  ($2.96 billion).
    China National Pharmaceutical, also known as Sinopharm, is
the parent of the drugmaker and had in 2021 decided against a
possible privatisation of China TCM. 

($1 = 7.8215 Hong Kong dollars)

 (Reporting by Rishav Chatterjee in Bengalurul; Editing by Arun
Koyyur)
 ((Rishav.Chatterjee@thomsonreuters.com;))