Top China nuclear power firm to launch dual IPOs in Shanghai, HK next year: Paper
SHANGHAI (REUTERS) - 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 (S$4.1 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.
State-run CGNPC is the only nuclear power firm under the direct management of China's State Council, or the Cabinet, with operational installed nuclear power capacity of 7.21 million kilowatts - 53 percent of China's total - by the end of April, according to reports in state media.