Nuclear operator's RMB322mn IPO locks up RMB1.69tn in bids

The US$2 billion (RMB322.8 million) initial public offering of China National Nuclear Power Co. locked up RMB1.69 trillion (US$273 billion) in bids for new shares in the company, Bloomberg reported, citing a statement posted on the website of the Shanghai Stock Exchange. The country’s second-largest atomic power operator plans to use the revenue from the 3.9 billion new shares – each valued at RMB3.39 – to build ten reactors and for working capital needs, according to the statement. Subscriptions for this and 22 other domestic IPOs could lock up RMB4.9 trillion in early June, according to the median estimate of six analysts surveyed last month.