Beijing's Tianyuan on China National Nuclear Power $2.7B Shanghai IPO
The state-owned nuclear power company has secured an approval for what will be the largest IPO mainland China has seen since China Everbright Bank's $3.6 billion Shanghai listing in 2010.
May 15, 2015 at 01:59 AM
2 minute read
China's Tianyuan Law Firm is representing state-owned China National Nuclear Power Co. on a planned $2.7 billion initial public offering on the Shanghai Stock Exchange.
Beijing-based China National Nuclear Power is a subsidiary of China National Nuclear Corp., or CNNC, the second largest of the three nuclear power companies in China. China General Nuclear Power Corp., or CGN Power, is the largest one and China Power Investment Corp. is the smaller one.
CNNC operates 13 nuclear power plants in eastern and northern China, supplying power mainly to provinces north to Guangdong province. In a regulatory filing, the company said it would use the proceeds to fund constructions of nuclear power stations in Zhejiang, Jinagsu, Fujian and Hainan provinces.
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