China’s Sany Heavy Industry eyes US$1.5 billion Hong Kong IPO, sources say
The Shanghai-listed heavy machinery manufacturer could raise funds in the second half of this year
Chinese manufacturer Sany Heavy Industry is planning a listing in Hong Kong that could raise up to US$1.5 billion, two people familiar with the matter said on Tuesday.
The people could not be named as they were discussing confidential information. Sany did not immediately respond to a request for comment.
Sany Heavy Industry has tapped Bank of America, JPMorgan and Citic Securities to work on the potential float, the people said.
The listing could happen in the second half of this year, one of the people added.
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Sany Heavy Industry is listed in Shanghai and has a market capitalisation of about US$20 billion.