Sino Biopharmaceutical to sell 67% stake in CP Qingdao for $253m

Sino Biopharmaceutical to sell 67% stake in CP Qingdao for $253m

FILE PHOTO: People walk in the Central Business District (CBD) on a hazy morning in Beijing, China, October 25, 2021. REUTERS/Thomas Peter/File Photo

Hong Kong-listed Sino Biopharmaceutical will sell a 67% stake in unit CP Pharmaceutical (Qingdao) for 1.82 billion yuan ($253.28 million) to entities controlled by state-owned Guoxin Group, the company said late on Tuesday.