Don’t miss the latest developments in business and finance.

China National Nuclear Power locks up $273 billion in IPO, a seven-year high

Image
Reuters SHANGHAI
Last Updated : Jun 04 2015 | 5:57 AM IST

SHANGHAI (Reuters) - China National Nuclear Power Co Ltd (CNNPC) , a unit of one of the country's two state nuclear reactor builders, on Thursday said it locked up 1.69 trillion yuan ($272.69 billion) of funds in its IPO this week.

Chinese stock investors need to put up some money to join a lottery system to buy IPO shares, freezing those funds. The amount locked up by CNNPC is the highest in seven years.

The company said in a statement published on the Shanghai Stock Exchange the final initial public offering price was 3.39 yuan per share, raising a total of 13.19 billion yuan.

(Reporting by the Shanghai Newsroom; Editing by Stephen Coates)

Also Read

First Published: Jun 04 2015 | 5:40 AM IST

Next Story