China's Top Nuclear Firm to Launch Dual IPOs

China Guangdong Nuclear Power Corp (CGNPC), the country's top nuclear power station builder, plans to launch dual initial public offerings (IPO) in Shanghai and Hong Kong next year, hoping to raise at least 20 billion yuan (US$3.3 billion), the official Shanghai Securities News said on Monday.

The report comes as signs emerge that an unofficial freeze on initial public offerings in mainland China might be thawing.

CGNPC plans to list part of its assets in Shanghai and part in Hong Kong but is yet to work out all the details, the newspaper quoted the company's chief accountant as telling Hong Kong media.

Nuclear power capacity under construction stood at 17.75 kilowatts by the end of April, accounting for about a quarter of the world's total, according to the report.

According to media reports, the firm's total assets are around 300 billion yuan and are expected to expand to 450 billion yuan in 2015 and 1 trillion yuan by 2020.