Sany Heavy Equipment eyes US$300 mln HK IPO
Published: 05 Nov 2009 19:42:28 PST
Nov. 6, 2009 (China Knowledge) - Chinese coal mining equipment maker Sany Heavy Equipment International Holdings Co plans to raise US$300 million via an initial public offering on the Hong Kong Stock Exchange, sources reported. The company, which kicked off IPO premarketing on Monday, plans to sell 500 million new shares, or 25% of its enlarged share capital. Proceeds from the share offering will be used to finance its new production facilities and upgrade existing facilities, according to its prospectus. The company expects to start its marketing road show on Nov.12 and will set the offering price on Nov. 24. The new shares will start trading on Dec.2. HSBC Holdings Plc<0005><HBC> is reportedly the sponsor and global coordinator of the IPO. Copyright © 2009 www.chinaknowledge.com |
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