Environment Ministry Approves CNBG's IPO Plans
News: Hong Kong's environment ministry has given approval to China National Biotec Group (CNBG) to raise up to US$1.58bn in an initial public offering (IPO). CNBG, which manufactures vaccines and blood products, is planning to raise US$1.3-1.6bn through the Hong Kong IPO. However, the public offering is subject to clearance by the China Securities Regulatory Commission. CNBG has not yet announced a date for the offering.