HONG KONG (dpa-AFX) - CGN Power Co, the Chinese nuclear power plant operator, is planning to raise up to US$3.16 billion in an initial public offering in Hong Kong, the Wall Street Journal said Sunday.
The company intends to offer 8.83 billion shares in a price range of HK$2.43 to HK$2.78 per share on Monday, the Journal said, citing people familiar with the matter.
State-owned CGN Power is to list on the Hong Kong Stock Exchange on December 10.
CGN Power plans to use proceeds from the IPO to further build power plants and also to buy a stake in a nuclear power station owned by its parent, CGNPC, the Journal said.
Copyright RTT News/dpa-AFX