China's Sany Heavy Industry passes listing hearing, ready for $10 billion HK IPO

Chinese manufacturer Sany Heavy Industry has passed the listing hearing, paving the way for its over-HK$10 billion Hong Kong initial public offering.

The company has received the green light from Hong Kong Exchanges and Clearing (0388) after winning regulatory approval from Chinese authorities for the listing. 

It filed for a Hong Kong listing in May, and was said to have planned to raise up to US$1.5 billion (HK$11.7 billion) from the share sale. 

Bama Tea, CIG Shanghai, and Deepexi Technology all won the nod from the bourse for listing, HKEX’s website showed on Sunday.