New stock news | It is reported that Sany Heavy Industry (600031.SH) is planning to start evaluating investor interest in its Hong Kong listing as early as next week.

According to reports, Sany Heavy Industry (600031.SH) plans to raise $1.5 billion (approximately HK$11.7 billion) in a Hong Kong IPO, with plans to start assessing investor interest as early as next week. The report quoted sources familiar with the matter as saying that Sany Heavy Industry is expected to conduct a hearing at the Hong Kong Stock Exchange this week, and is set to list in Hong Kong in the coming weeks, potentially becoming one of the largest IPOs in Hong Kong this year. The sources mentioned that discussions are still ongoing, and there may be changes in the transaction size and timing. According to the Hong Kong Stock Exchange disclosure on May 22nd, Sany Heavy Industry has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC SEC as the exclusive sponsor. The prospectus shows that Sany Heavy Industry focuses on the research and development, manufacturing, sales, and services of a full range of engineering machinery products such as excavators, concrete machinery, crane machinery, piling machinery, and road machinery. The company provides customized products and solutions for various scenes such as earthwork engineering, public construction, road and bridge construction, airport runways, building construction, mining operations, energy development, and port logistics. According to data from Frost & Sullivan, based on cumulative revenue from core engineering machinery from 2020 to 2024, Sany Heavy Industry is the third largest globally and the largest in China in the engineering machinery industry. During the reporting period, Sany Heavy Industry's products have been sold to more than 150 countries and regions worldwide, with overseas market revenue accounting for 62.3% of the group's total revenue in 2024. The group's products are trusted by global customers and are widely involved in the construction of many global iconic projects, such as the Hong Kong-Zhuhai-Macao Bridge, London Olympic venues, the Dubai Tower, and the Beijing Olympic venues.