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    600795   CNE000000PC0

GD POWER DEVELOPMENT CO.,LTD

(600795)
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End-of-day quote. End-of-day quote Shanghai Stock Exchange - 06/18
2.41 CNY   -0.82%
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China National Nuclear aims to raise 1.4 billion pounds in largest IPO since 2011

05/31/2015 | 09:29pm EDT

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 Monday said it aims to raise 13.19 billion yuan (1.4 billion pounds) in potentially the largest China IPO in almost four years.

The company intends to issue 3.891 billion shares at 3.39 yuan a piece, and will start taking subscriptions from investors on Tuesday, according to a prospectus published on the Shanghai Stock Exchange.

CNNPC is the largest of the 23 companies that will kick off initial public offerings this week. The IPOs could lock up 5 trillion yuan of liquidity, according to some analysts, and put pressure on a stock market already facing headwinds from tougher margin requirements by brokerages.

CNNPC's would be the largest A share IPO since Power Construction Corp of China's offering in September 2011.

China is aiming to raise its total nuclear capacity to 58 gigawatts by the end of 2020 from 21 GW currently, requiring huge investments.

The China Nuclear Energy Association estimates about 100 billion yuan needs to be spent every year over the next five years to meet the target.

CNNPC said its IPO price of 3.39 yuan was 22.29 times the company's 2014 earnings, which is lower than an average price/earnings ratio of 29.75 for its listed peers, including China Yangtze Power Co (>> China Yangtze Power Co., Ltd.) and GD Power Development Co (>> GD Power Development Co Ltd).

The prospectus said it had total debt of 175.88 billion yuan at the end of last year.

CNNPC is a unit of China National Nuclear Corp (CNNC) which invests, builds and operates domestic nuclear power plants. It has 12 subsidiaries in different regions.

Last year, CNNC's major rival, China General Nuclear Power Corp, listed subsidiary CGN Power on the Hong Kong stock exchange, raising $3.2 billion.

(Reporting by Nathaniel Taplin and Samuel Shen; Editing by Stephen Coates)


ę Reuters 2015
Stocks mentioned in the article
ChangeLast1st jan.
AIMING INC. -3.73% 361 End-of-day quote.-13.64%
CHINA YANGTZE POWER CO.,LTD. -1.57% 20.08 End-of-day quote.4.80%
GD POWER DEVELOPMENT CO.,LTD -0.82% 2.41 End-of-day quote.7.11%
SHANGHAI A INDEX -0.01% 3694.9082 Real-time Quote.1.50%
SHANGHAI STOCK EXCHANGE B SHARES INDEX -0.17% 251.0738 Real-time Quote.3.12%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.24% 6.4682 Delayed Quote.-1.11%
All news about GD POWER DEVELOPMENT CO.,LTD
03/03MARKET CHATTER : UBS Mulls Raising Stake in China JV to 67%
MT
2017Shenhua and Guodian - China's latest state marriage
RE
2017FACTBOX - SHENHUA AND GUODIAN : China's latest state marriage
RE
2017FACTBOX - SHENHUA AND GUODIAN : China's latest state marriage
RE
2015China National Nuclear aims to raise 1.4 billion pounds in largest IPO since ..
RE
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Financials
Sales 2021 119 B 18 406 M 18 406 M
Net income 2021 4 274 M 662 M 662 M
Net Debt 2021 - - -
P/E ratio 2021 11,0x
Yield 2021 4,15%
Capitalization 44 183 M 6 847 M 6 848 M
Capi. / Sales 2021 0,37x
Capi. / Sales 2022 0,37x
Nbr of Employees 32 913
Free-Float 52,0%
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Mean consensus BUY
Number of Analysts 3
Average target price 2,85 CNY
Last Close Price 2,41 CNY
Spread / Highest target 18,3%
Spread / Average Target 18,3%
Spread / Lowest Target 18,3%
EPS Revisions
Managers and Directors
NameTitle
Guo Yue Liu Chairman
Xue Hai Liu Chairman-Supervisory Board
Xiu Hua Li Independent Director
De Bu Gao Independent Director
Xiang Ning Xiao Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GD POWER DEVELOPMENT CO.,LTD7.11%6 847
TENAGA NASIONAL0.19%14 381
ENEVA S.A.15.30%4 489
UNIPRO4.37%2 535
CHINA POWER INTERNATIONAL DEVELOPMENT LIMITED-1.20%2 072
SHIKOKU ELECTRIC POWER COMPANY, INCORPORATED14.14%1 431