Off the wire
• South China on blue alert for heavy rain  • Halal, kosher certification to be investigated by Australia  • Australian politician wants to lower the voting age to 16  • Indian stocks open lower  • NZ car rental firms to start tighter rules for foreign drivers in June  • Australia worries slow growth in New Zealand manufacturing  • Big motorcycles to be allowed to run on Vietnamese expressways on trial basis  • U.S. moves to mend ties with Cuba "insufficient": Ecuadorian president  • Alcohol restrictions cause increased ice abuse in Australian indigenous communities  • Singtel reports 4 pct up in group net profit in FY 2015  
You are here: 　 Home

China securities authority approves IPO of nuclear giant

Xinhua, May 14, 2015 Adjust font size:

China's securities watchdog on Wednesday night gave the nod to an initial public offering (IPO) from China National Nuclear Power Co., the country's leading nuclear power developer.

The nuclear giant plans to issue a maximum of 3.89 billion shares to raise more than 16.25 billion yuan (2.66 billion U.S. dollars) through its IPO, according to an online statement by the China Securities Regulatory Commission.

Nearly half of the funds raised will be used to replenish working capital, with the rest invested in nuclear power projects in Fujian, Zhejiang and Hainan provinces, according to the prospectus.

It is expected to be the biggest IPO in China's A-share market in the past four years.

The company filed its first IPO application in 2012, but it was suspended due to government concerns about large-cap stock flotation. Endi