Facebook Inc.’s $16 billion initial public offering could pale in comparison to this upcoming one from China.
As Dow Jones Newswires reports Wednesday, China National Nuclear Power Co. is planning to raise money in a Shanghai IPO to fund five projects worth 173.5 billion yuan (US$27 billion). The company didn’t disclose the amount it plans to raise or shares it plans to sell in a statement on the Ministry of Environment Protection.
The MEP said in a separate statement that the company has passed an environmental inspection by the ministry, a necessary go-ahead before filing its IPO application to the China Securities Regulatory Commission. After an examination of the company, the MEP found no violations of laws or statutes, the ministry said.
The CSRC hasn’t approved any sizeable IPO since May while fundraising activities in the IPO market have slowed because of market volatility. The benchmark Shanghai Composite Index has lost about 4% since May 1.
- China tells IPO bankers to “like” Facebook: IFR (news.yahoo.com)
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- China tells IPO bankers to “like” Facebook (craighill.net)
- China’s IPO bankers urged to get acquainted with Facebook (thehimalayantimes.com)