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CNNC Nuclear Power mulls domestic IPO

Jan. 9, 2012 (China Knowledge) - CNNC Nuclear Power, a subsidiary of state-owned China National Nuclear Corp or CNNC, the nation's largest nuclear power plant builder, is considering to launch its initial public offering in the domestic capital market, said a person familiar with the matter.

The source added that CNNC Nuclear Power has received approval from the State Council to start the IPO, but did not disclose the IPO size.

CNNC Nuclear Power has prepared for the IPO for years, which have been delayed due to restructuring of CNNC and Japan's nuclear crisis caused by earthquake.

Besides CNNC Nuclear Power, several Chinese nuclear power suppliers, including State Nuclear Power Engineering Corp Ltd, China Nuclear Engineering Group Corp and China Guangdong Nuclear Power Group, are considering to start their IPOs, said Sun Qin, General Manager of CNNC.

CNNC is currently the parent firm of Shenzhen-listed Sufa Technology Industry Co<000777> and CNNC International Ltd<2302>.

In the first three quarters of last year, CNNC reaped RMB 4.88 billion in profit and RMB 30.83 billion in operating revenue.

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