Jun. 7, 2012 (China Knowledge) - China National Nuclear Power Co, the country's leading nuclear energy developer, plans to raise RMB 16 billion through an initial public offering on the Shanghai Stock Exchange, said sources familiar with the matter, domestic media reported.

The listing of China National Nuclear Power is the first step of its parent China National Nuclear Corp toward a group listing, said the sources.

The report said that CITIC Securities Co<600030><6030> and UBS Securities have been hired to handle the deal.

China National Nuclear Power has passed the preliminary environmental review by the Ministry of Environmental Protection, said the ministry in a statement on Wednesday.

The company did not disclose its fund-raising target, but said proceeds from the IPO will be used to fund five nuclear power projects that need total investment of RMB 173.52.