(Bloomberg) -- Taibang Biologic Group, a plasma-derived biopharmaceutical product maker, has chosen banks for an initial public offering in Hong Kong, according to people familiar with the matter.

The Beijing-based company, which was previously known as China Biologic Products Holdings and was listed in New York until 2021, is working with China International Capital Corp. and JPMorgan Chase & Co. on the proposed share sale, the people said, asking not to be identified as the information is confidential. The listing could take place as soon as next year and could value the company at as much as $6 billion, they said. 

An IPO could raise at least a few hundred million dollars, one of the people said. The final details of the deal would depend on market conditions, the people said. 

A relisting in Hong Kong could come after a consortium consisting of Centurium Capital, Citic Capital, Hillhouse Capital and Temasek Holdings Pte took the company private in a $4.8 billion deal announced in 2020 and completed the following year. The firm made its Nasdaq debut in 2009.

Considerations are ongoing and the fundraising amount, valuation and timing could all still change, the people said. Representatives for CICC and JPMorgan declined to comment, while Taibang didn’t immediately respond to requests for comment.

The company raised $300 million from investors including Abu Dhabi Investment Authority’s subsidiary Platinum Orchid and Singaporean sovereign wealth fund GIC Pte, it announced on WeChat on Aug. 2. 

Taibang, which was founded in 2002, sells plasma products including albumin, immunoglobulin for intravenous injection and coagulation factor products, according to its website. Its portfolio includes 10 plasma-derived products covering over 20 specifications, and has three manufacturing bases in China. 

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