Taibang Biologic Group has raised $300 million from investors including the Abu Dhabi Investment Authority and Singaporean sovereign wealth fund GIC, the Chinese company said Tuesday, reports Nikkei Asia. The biopharmaceutical company, formerly known as China Biologic Products, was previously listed on Nasdaq. It was taken private in April 2021 by a consortium led by Beijing-based Centurium Capital to focus its resources on the Chinese market.
International Financing Review reported last year that China Biologic was considering an initial public offering in Hong Kong in 2022. The recent funding round is likely to raise expectations of a return to public markets, a common exit strategy through which investors can realize their profits.
Taibang Biologic, established in 2002, mainly develops plasma products and other biopharmaceuticals. It was valued at more than $4.6 billion before the delisting.