Nuclear operator moves closer to IPO

China National Nuclear Corp, the country's largest nuclear operator, said it got a nod from the Ministry of Environmental Protection for its initial public offering, according to a statement on the company's website on Friday.

The ministry inspected seven subsidiaries under the nuclear operator before issuing the approval, which brings it a step closer to its IPO.

CNNC plans to raise money to help fund five projects worth $27.3 billion via what could be one of China's biggest IPOs by far. The project still needs approval from the securities regulator.

China suspended approval of new nuclear power plants in the wake of Japan's nuclear crisis in March 2011.

The government has not made any decision on when to start approving new nuclear plant projects.