Abu Dhabi fund leads $300m investment in China’s Taibang By Reuters August 2, 2022, 5:30 AM Creative Commons Taibang makes and sells plasma products and was previously known as China Biologic Products Holdings, as per the statement China’s Taibang Biologic Group raised $300 million to finance growth in a fundraising led by sovereign wealth funds Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC, the biopharmaceutical firm said on Tuesday. Apart from Platinum Orchid, a subsidiary of the United Arab Emirates’ biggest sovereign wealth fund ADIA, and GIC, new investors included state-owned China Life’s private equity arm – China Life Private Equity Investment – and Cinda Kunpeng (Shenzhen) Investment Management Co., Ltd, Taibang said in a statement. Taibang makes and sells plasma products and was previously known as China Biologic Products Holdings, as per the statement. The proceeds will be used to finance its expansion of plasma stations and its research and development of new products, the statement said. The deal marks Taibang’s first equity financing transaction since the completion of its privatisation in April last year by a consortium led by Chinese private equity firm Centurium Capital. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
