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.