Shenzhen-listed China Dalian International Cooperation (Group) Holdings (CDIC) plans to purchase assets of CGN Nuclear Technology Application Co by raising a total of 4.25 billion yuan ($664.5 million) in a private placement, according to a CDIC filing with the stock exchange on Monday.
After the deal, CGN Nuclear Technology Application Co, a subsidiary of China General Nuclear Power Corp (CGN), will become CDIC's controlling shareholder, according to the statement.
CDIC is expected to be transformed into a leading high-tech enterprise for nuclear technology in China after the transaction, making it the first nuclear technology application firm listed in the Chinese mainland, the statement said.
CDIC will further promote the consolidation and upgrading of the domestic nuclear technology application industry and speed up its deployment in the global market.
