Sinopharm Said to Revive Pursuit of Potential China TCM Buyout

China National Pharmaceutical Group Co. is considering potentially taking China Traditional Chinese Medicine Holdings Co. private, according to people familiar with the matter, having abandoned a previous attempt to do so in 2022.

The company known as Sinopharm has contacted banks about financing, the people said, asking not to be identified discussing confidential information. Sinopharm, which holds a stake of about 32% in Hong Kong-listed China TCM, may also team up with other investors, one of the people said.

China TCM shares were up 0.6% at 2:22 p.m. in Hong Kong on Wednesday, trading at HK$3.14, still some 28% lower ...