China's securities regulator has given the nod to an initial public offering (IPO) from China National Nuclear Power Corporation, the country's leading nuclear power developer.

The nuclear giant is planning to issue a maximum of 3.89 billion shares to raise more than 16.25 billion yuan or more than 2.6 billion U.S. dollars through its IPO.

Nearly half of the funds raised will be used to replenish working capital.

The rest will be invested in nuclear power projects in Fujian, Zhejiang and Hainan provinces.

It is expected to be the biggest IPO in China's A-share market in the past four years.

The company filed its first IPO application in 2012.

However, it was suspended due to government concerns about large-cap stock flotation.