Billions to be raised in IPOs to build nuclear power project in Hainan

China’s A-share market is set to face huge pressures in the second half of this year as a series of giant IPOs that could raise hundreds of billions of yuan kick-off.

On Tuesday, the Ministry of Environmental Protection disclosed that China National Nuclear Power Co., Ltd. had had its IPO approved,Bloomberg reported.

Though the final fundraising amount has yet to be released, speculation puts the figure in the tens of billions of yuan based on available information.

The funds raised through the IPO will be used to build and operate five nuclear power projects in Jiangsu, Zhejiang, Fujian and Hainan provinces that will cost 174 billion yuan.

Here are seven planned large-cap stocks that are expected to list later this year and their estimated fundraising sizes:

Shanxi Coal Industry Co. Ltd. – 17.3 billion yuan

CITIC Heavy Industries Co. Ltd. – 4.1 billion yuan

China Post Express Logistics Co. Ltd. – 9.98 billion yuan

HuaibeiMining Group Co. Ltd. – 6 billion yuan

China National Building Materials Co. Ltd. – 15 billion yuan

China Railway Materials Co. Ltd. – 14.7 billion yuan

People’s Insurance Company (Group) of China Ltd. – 10 billion yuan

In addition to these IPOs, several major share sales are also planned as companies refinance, with at least 56.3 billion yuan expected to be raised.

In fact, some refinancing plans are even greater than planned IPOs — Hainan Airlines (600221.SH) plans a private placement of up to 8 billion yuan.
 
SOURCE: morningwhistle.21cbh.com