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China National Nuclear Power locks up $273 billion in IPO, a seven-year high
June 4, 2015 / 12:10 AM / 2 years ago

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

SHANGHAI (Reuters) - China National Nuclear Power Co Ltd (CNNPC) (601985.SS), 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

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