Stock exchange sees first IPO in 14 months

The Shanghai Stock Exchange had its first nominal IPO in 14 months on Thursday, which is actually a securities account transfer from B to A shares by Zhejiang Zheneng Electric Power Co Ltd.

There will be no daily cap for the share price of Zhejiang Zheneng Electric Power on Thursday according to related regulations, said the Shanghai Stock Exchange's official Sina micro blog.

Out of Zhejiang Zheneng Electric Power's 1.07 billion shares, 608 million were available for trading on Thursday.

After the IPO, Zhejiang Zheneng Electric Power will increase its investments in nuclear power stations and gas electric business, the Beijing News reported, citing an unnamed source.