Nuclear power developer waiting for IPO approval

China National Nuclear Power Co Ltd, the nation's leading nuclear energy developer, is going through the initial examination of the China Securities Regulatory Commission, according to a CSRC announcement.

The company, formed in December 2011 in an effort to restructure its parent company, the State-owned China National Nuclear Corporation, passed the ministry's environmental inspections earlier this year.

Capital raised from the IPO will be used in five nuclear plant programs. The total investment is estimated to be 173.5 billion yuan ($27.5 billion), the company said in a statement.

Other nuclear power developers, including China Nuclear Engineering Corporation and China Guangdong Nuclear Corporation, are also preparing for public offerings, an earlier media report said.

On Oct 24, the State Council discussed and approved safety and development plans of nuclear power plants for the 2011-20 period, stating that China will resume normal construction of nuclear power plants steadily and gradually. The meeting also stressed for the first time that China won't construct nuclear power plants inland.

Currently, 820 companies are waiting for IPO permission from the CSRC.