China Nuclear Power Plans $2.6 Bln Share Sale In Industry's First IPO

Posted by Joseph R. Fonseca
Sunday, May 04, 2014

 

China National Nuclear Power Co Ltd said it plans to sell shares publicly in Shanghai aiming to raise 16.3 billion yuan ($2.60 billion), the first initial public offering from the industry as China resumes expansion on its nuclear power capacity.

The listing, if approved by the securities regulator, could also the biggest mainland listing since Agricultural Bank of China Ltd debuted in July 2010, and comes after China restarted its IPO market this year.

Guotai Junan Securities Co Ltd has also applied for an IPO in Shanghai that could raise nearly 22 billion yuan, according to Reuters calculations.

The state-owned China National Nuclear plans to sell 3.651 billion shares, or 25 percent of the enlarged capital base, the company said in a preliminary prospectus posted on the website of the securities regulator over the weekend.

It plans to use the proceeds to fund projects and replenish working capital.

(Reporting by Samuel Shen and Kazunori Takada; Editing by Christopher Cushing)

($1 = 6.2593 Chinese Yuan)

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

SC Ports’ Earnings, Volumes Surpass Plans

July cargo volumes deliver strong start to new fiscal year SC Ports Authority reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent over the organization's financial plan.

GoM Sale Yields $110m in High Bids

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, today’s Western Gulf of Mexico Lease Sale 238 attracted $109,

Traders Store Crude for Profit as Contango Takes Hold

Oil traders have begun fixing tankers to take North Sea, West African and Arab crudes to South Africa for storage, hoping for a repeat of the multimillion dollar bonanza they reaped in 2008-2009.

Energy

Update: LOOP Terminal Shutdown

LOOP's Offshore Marine Terminal suspended its crude oil offloading operations on August 13 while investigating an oil sheen discovered along the pipeline. According to the terminal,

GoM Sale Yields $110m in High Bids

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, today’s Western Gulf of Mexico Lease Sale 238 attracted $109,

Ohio River Reopens as Oil Spill Clean-up Progresses

A 15-mile section of the Ohio River was reopened for limited traffic on Wednesday as clean-up of a 5,000-gallon fuel oil spill continued, the U.S. Coast Guard said on Wednesday.

Fuels & Lubes

Doosan Delivers a ‘World’s First’ to NASSCO

Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA.

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Oil Spills into Ohio River from Coal Plant

The U.S. Coast Guard closed a 15-mile stretch of the Ohio River on Tuesday after at least five thousand gallons of fuel oil spilled from a 60-year-old power plant owned by Duke Energy near Cincinnati,

News

Update to Fire Damage to Australian Patrol Boat

Armidale Class Patrol Boat HMAS Bundaberg suffered significant damage due to a fire which occurred on Monday, August 11, 2014 in Brisbane. The boat was undergoing

Water Monitoring to Continue at Western Gulf Ports

A water monitoring network that helps keep port traffic moving is the responsibility of the Conrad Blucher Institute (CBI) for Surveying and Science at Texas A&M University-Corpus Christi.

Green Marine, ACPA Partner to Reduce Environmental Footprint

Green Marine and the Association of Canadian Port Authorities (ACPA) have entered into a Memorandum of Understanding with the goal of jointly expanding efforts

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1320 sec (8 req/sec)