Chinese private equity firm Hony Capital is reportedly aiming to make about $260m by selling shares in CSPC Pharmaceutical Group through two affiliates.
Jinling Investment and Joyful Horizon are offering 500 million shares in the Chinese vitamin maker according to Bloomberg, which said it had obtained a term sheet detailing the deal.
Morgan Stanley is said to be arranging the transaction.
Earlier this year Bloomberg reported that Hony had raised about $155m selling CSPC shares.
The Chinese firm raised almost $2.4bn for its fifth dollar-denominated fund and RMB10bn ($1.58bn) for its second renminbi-denominated investment vehicle, the firm said in a statement.
Both funds are more than double the size of their respective predecessors.
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