China to Stoke Nuclear Power State-Owned Firm Plans IPO to Fund Reactors; $5.4 Billion Deal Is Possible

The Wall Street Journal
http://online.wsj.com/article/SB10001424052702303665904577449784005256706.html?&grcc=99999&mod=WSJ_hps_sections_business

• Updated June 7, 2012,

China to Stoke Nuclear Power

State-Owned Firm Plans IPO to Fund Reactors; $5.4 Billion Deal Is Possible

China's state-owned nuclear power company is planning to launch an initial public offering to help fund five power projects. DJN reporter Wayne Ma tells Deborah Kan how this move fits in with China's long-term plans.

BEIJING—China National Nuclear Power Co. said it is planning a Shanghai initial public offering that will go toward financing part of five power projects worth 173.5 billion yuan ($27.2 billion), in a multibillion-dollar deal that signals that the country's ramp-up of nuclear power is moving forward.

A nuclear reactor under construction in Hainan province in December. China has 14 reactors in service.