China nuclear power IPO takes first steps

Pre-investor education kicks off on Monday for the planned $3b IPO of China General Nuclear Power, which could be Hong Kong's second largest this year.

China General Nuclear Power, the country’s largest nuclear energy producer, will kick off pre-investor education on Monday ahead of its planned $3 billion initial public offering in Hong Kong.

The Shenzhen-based company's looming flotation is timed to coincidence with the Chinese government’s drive to curb coal usage in favour of cleaner energy. If it meets its target, CGN Power will be Hong Kong's second-largest IPO this year after HK Electrics $3.1 billion offering in January.

CGN Power this week won approval from the Hong Kong stock exchange to proceed with the share sale. Bank of America Merrill Lynch, CICC, and ABCI Securities the investment arm of...

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