Sany Heavy Industry's electric company plans to raise US$500 million for HK IPO, Bloomberg reported

Sany Heavy Industry (6031) was reportedly considering an initial public offering in Hong Kong for one of its units, Hunan Xingbida Network Technology, raising around US$500 million (HK$3.9 billion), Bloomberg reported.

Sany Heavy Industry is a Chinese multinational heavy equipment manufacturer. Its shares once rose by 6 percent to HK$22.84 on Wednesday following the report.

The discussion is still ongoing, the report said.

Its competitor, Xuzhou XCMG Automobile Manufacturing, was also reportedly planning a listing in Hong Kong, raising at most US$500 million.

Sany Heavy Industry was listed on the Hong Kong Stock Exchange in October 2025.
 

 

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