Chinese power companies

Retail investors snap up CGN Power’s Shenzhen IPO

China’s largest nuclear energy producer has received strong retail demand for its $1.76 billion IPO, set to be the largest ever listing in Shenzhen.

CGN Power is set to allocate most of the shares under its Rmb12.4 billion $1.76 billion initial public offering in Shenzhen to retail investors after they put in orders of more than 400 times the shares available to them.

China’s largest nuclear energy producer said that it had received applications for as many as 306 billion shares for the 757 million shares available under the retail tranche. As a result of the robust demand, the company has exercised the clawback option and enlarged the retail tranche to 1.84 billion shares.

With half of the 5.05 billion-share IPO already allocated to strategic investors before bookbuilding began on Monday,...

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