Sany Heavy Industry targets $1.6bn in Hong Kong listing to fund global expansion
22 October 2025
Sany Heavy Industry is seeking to raise up to HK$12.36 billion ($1.59 billion) through a Hong Kong listing, according to a filing on Monday.
Employees work at a manufacturing plant of Sany Heavy Industry Co. during a government-organised tour of manufacturers based in Changsha, Hunan province, China, October 19, 2019. Photo: Reuters/Thomas Peter
The company is selling 580.4 million shares at a price range of HK$20.30 to HK$21.30 each. The final share price is due to be set on Friday, with trading scheduled to begin on October 28.
Around 45% of the funds from the Hong Kong listing are planned for expanding Sany’s international sales and service network. The company aims to grow its presence in Germany, France, and the UK, and increase sales across Asia and Saudi Arabia.
An additional 25% of the funds will support research and development, and 20% will be used to establish new overseas manufacturing facilities.
Cornerstone investors have committed approximately $759 million to the deal, including Singapore’s Temasek, Hillhouse, UBS Asset Management, BlackRock, and Oaktree.
The company produces a wide range of machinery, including excavation, lifting, road construction, and pile-driving equipment, and operates factories and offices in China, the United States, Europe, India, Brazil, and Germany.
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