China nuclear company plans IPO to fund expansion
BEIJING (AP) — China's main builder of nuclear power plants plans an initial public offering to help finance a $27 billion investment program.
The official Xinhua News Agency said Wednesday that state-owned China National Nuclear Power Corp. will use the money to build or expand five nuclear power plants.
The announcement gave no details of how much money the IPO was intended to raise but said it would take place in China.
The company was created in December 2011 as part of a restructuring of its parent company, the government-owned China National Nuclear Corp.
