China National Uranium posts strong IPO

China National Uranium raised RMB 4.43 billion in its Shenzhen IPO, with shares opening about 247% above the offer price. The CNNC-backed miner plans to expand uranium production in Inner Mongolia and Xinjiang and reported RMB 13.76 billion in revenue for the first nine months, up 23% YoY. Its prospectus forecasts full-year revenue of RMB 19.5–20.0 billion and net profit of RMB 1.60–1.65 billion.