CGN Power Said to Raise $3.2 Billion in Hong Kong Initial Offer

CGN Power Co., seeking to become China’s first listed nuclear energy producer, raised about $3.2 billion in Hong Kong’s biggest initial public offering in two years, people with knowledge of the matter said.

China’s largest nuclear power generator sold 8.83 billion shares at HK$2.78 apiece, the top end of a marketed range, according to the people. It may later use an overallotment option to increase the deal size to about $3.6 billion, they said, asking not to be identified as the information is private.