Tian Yuan Law Firm is advising China National Nuclear Power Corp’s (CNNPC) on its planned $2.7 billion initial public offering on Shanghai Stock Exchange, which would be the country’s biggest A-share listing in five years.
The listing has received the green light from China Securities Regulatory Commission (CSRC) on May 13, and is potentially the largest domestically since China Everbright Bank’s 3.5 billion IPO in 2010. It is still awaiting final approval from the CSRC.
A Tian Yuan team led by partner Wu Guanxiong and Zhou Shijun is advising CNNPC, the nation’s second-largest nuclear power operator by capacity, on its listing. The IPO is expected to be completed in June, according to industry insiders.
The IPO will follow China General Nuclear Power’s listing in Hong Kong last December, which raised $3.16 billion.
CGN Power and CNNPC together control 90 percent of China’s market for nuclear power. The proposed listing is evidence of Beijing’s push to adopt renewable energy to address China’s chronic air pollution.
