China's CGN Power sets price range valuing IPO at up to $3.2 billion - IFR

HONG KONG (Reuters) - CGN Power Co. Ltd., China's largest nuclear power producer, is set to launch on Monday an initial public share offer in Hong Kong worth up to $3.2 billion, to raise funds for its expansion. The offer consists of 8.82 billion shares that will be offered in an indicative range of HK$2.43 to HK$2.78 each, Thomson Reuters publication IFR said late on Sunday, citing sources familiar with the deal. That would put the total value of the offer at up to HK$24.52 billion ($3.16 billion). CGN Power plans to use the funds to expand its installed capacity with nine new power generating units and increase its stake in a nuclear power station controlled by its parent, state-owned China General Nuclear Power Corp., according to its preliminary IPO prospectus. CGN Power could not immediately be reached for comment outside business hours on Sunday. (1 US dollar=7.7578 Hong Kong dollars) (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Greg Mahlich)