China Biologic launches secondary of Warburg Pincus-held shares

|About: China Biologic Products, Inc. (CBPO)|By:, SA News Editor

China Biologic (CBPO +3.2%) is announcing a secondary offering of 3.5M shares -- amounting to about $411.7M at its current price.

The company, a plasma-based biopharmaceutical with a market cap of nearly $3.1B, isn't selling any shares in the deal and won't receive any proceeds. Warburg Pincus and affiliates will sell the shares.

The number of shares to be sold amounts to about 13.2% of outstanding stock, and common stock outstanding won't change as a result. The offering's expected to close next Monday.

After hours: CBPO flat.

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