China General Nuclear Power Corp. (CGN) will sell directly or indirectly 17% of its shares in Yangjiang nuclear power project by a public listing in China Beijing Equity Exchange. Once the sale finished, CGN would hold directly and indirectly 61.2% equities of Yangjiang project. The listing price for the potential sale is 5 billion RMB(USD743 Million) . The open listing will finish on Nov.2.
The purpose of this strategy of CGN is to optimize the resources and upgrade CGN’s market development capabilities by introducing the mature experience and advanced business ideas and concepts of new shareholders.
The prerequisites or qualification of the prospective transferee are as followings:
- Over 10-year business in nuclear and power generation industry;
- Extensive experience of operation and safety management in large commercial nuclear power projects, and strong capabilities in technology and financing, reserve of talents and nuclear performance;
- This stock transfer doesn’t allow the joint venture;
- Others required by China administrative laws and regulations.
In addition, the final transferee shall provide a written commitment to be able to propose an effective solution to help Yangjiang further develops the power market.
