CGN Power poised to raise $3.2b in HK's biggest IPO in two years

CGN Power Co, China's largest nuclear power generator, is set to raise about $3.2 billion in Hong Kong's biggest initial public offering in two years, according to people with knowledge of the matter.

The organization, which is seeking to become China's first listed nuclear energy producer, plans to sell 8.83 billion shares at HK$2.78 (36 cents) apiece, the top end of a marketed range, the sources said, adding that it may later use an overallotment option to increase the deal size to about $3.6 billion.

CGN Power is drawing investor interest as China favors cleaner energy sources following a landmark deal with the United States to cut emissions.