Chinese construction equipment manufacturer Sany Heavy Industry has raised HK$12.36 billion ($1.59 billion) from a Hong Kong second listing after setting the offering at per H-share, according to a Shanghai Stock Exchange filing on Friday.
Sany Heavy Industry priced the offering at the top of a price range of HK$20.30 to HK$21.30 apiece and is set to debut on the main board of the Hong Kong Stock Exchange on Oct 28, according to the company’s filings.
Sany Heavy Industry’s Hong Kong listing follows a series of sizable share offerings in recent weeks, including the $3.2 billion initial public offering of Zijin Gold International, the largest such deal globally so far.
Companies raised a total of $23 billion in Hong Kong in the first nine months this year, more than three times the value for the same period in 2024, Dealogic data showed.
Sany Heavy Industry’s Shanghai-listed shares are trading up 38.7% this year, which is more than double the local market’s performance.
The company specialises in heavy equipment, making a wide range of machinery including excavation, lifting, road construction and pile-driving equipment.
It has operations and factories in the United States, Europe, India, Brazil and Germany, as well as five manufacturing hubs in China, according to its website.
Reuters
