China's Shanghai Fosun Pharmaceuticals brushed off media reports that the company is planning to bid for German generic drugmaker Stada.

In a statement released, the company said that it has no plans or has not made any arrangements of the said bidding. It also reminded its shareholders and potential investors to refer to the official website of The Stock Exchange of Hong Kong Limited for accurate announcements.

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It also reminded shareholders and potential investors to exercise caution when trading with the company's securities, Street Insider reported.

Reports last week alleged that Fosun Pharma is planning to bid for Germany's Stada, already the center of a $3.8 billion takeover battle between two private consortia, Reuters reported citing two sources familiar with the matter.

Fosun is also reportedly carrying out early-stage talks with buyout funds including CVC about a potential joint bid. However, it may soon decide to go alone with a view to taking financial investors on board later.

According to CNBC, the Stada bid is reportedly part of Fosun Pharma's overseas expansion plan after it bought India's Gland Pharma in 2016. It further quoted Chen Qiyu, Fosun Pharma's chairman, saying in September that the company is eyeing for overseas markets for investments.

Media reports also said that the private equity firm may offer up to 60 euros ($64.20) per share, noting that confirmatory bids are likely to start at an initial level of around 58 euros ($62.06) per share or a total of $3.8 billion for Stada's entire equity.

Cash-rich Fosun Pharma is part of Chinese conglomerate Fosun International, which is led by billionaire Guo Guangchang. The company has been known to be active in global mergers and acquisitions, ranging from property to finance.

Meanwhile, Stada is poised to receive "confirmatory bids" from a consortium composed of Advent and Permira, and competitors Bain and Cinven. Deadline for the firm's final bids is due before Easter, sources noted.