Hillhouse, others set to invest $630 mn in China's Giant Biogene: Report

China's Xian Giant Biogene Technology has embarked on a fundraising round that will likely see Hillhouse Capital Group and others buy at least 4 billion yuan ($630 million) worth of shares, two people familiar with the matter said.

The share sale, a combination of new and existing shares, will value the maker of medicinal skin care treatments at 19 billion yuan ($3 billion) said the people, who declined to be named as the information was private.

The deal is near closing, but the total investment size may still change, one of the sources said.

The fundraising will likely be followed