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CNNP IPO application approved

2015-05-14 10:02

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The initial public offerings (IPO) application of China National Nuclear Power (CNNP) has been approved by China Securities Regulatory Commission (CSRC).

CNNP plans to issue a maximum of 3.891 billion A-shares on the Shanghai Stock Exchange, according to the IPO pre-disclosure updates provided by the China Securities Regulatory Commission. CNNP will have no more than 15.565 billion shares after the issuance.

CNNP, a major investor and operator of China's nuclear power projects, plans to use 7.05 billion yuan out of the 16.25-billion-yuan IPO proceeds to replenish working capital, with the remaining to be used for follow-up investments in nuclear power projects in Fujian, Zhejiang, Hainan, and Jiangsu provinces.

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