China approves $2.66 billion IPO of nuclear giantStaff writer ▼ | May 16, 2015
China's securities watchdog gave the green light to an initial public offering (IPO) from China National Nuclear Power, the country's leading nuclear power developer.
IPO Chinese nuclear company goes private
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. ■