A idiosyncratic debugs a robot astatine a Sany Heavy Industry works successful Changsha, cardinal China's Hunan Province, connected Feb. 20, 2020.
Chen Zeguo | Xinhua News Agency | Getty Images
China's Sany Heavy Industry traded level connected its Hong Kong trading debut Tuesday aft raising HKD$12.36 cardinal ($1.59 billion) successful 1 of the city's largest listings this year.
Shares were priced astatine HK$21.30 apiece. The listing adds to a pickup successful Hong Kong equity fundraising, pursuing caller sizable offerings specified arsenic Zijin Gold International's $3.2 cardinal archetypal nationalist offering connected Sept. 30.
Sany's Shanghai-listed stock has gained implicit 35% truthful acold this year. The company, founded successful 1994, is among the world's largest makers of operation machinery, producing excavators, cranes, road-building instrumentality and heap drivers.
China International Capital Corp. acted arsenic the sole sponsor and wide coordinator for the archetypal nationalist offering. Other banks connected the woody included BOC International, Industrial and Commercial Bank of China, Agricultural Bank of China and China Merchants Bank.
Cornerstone investors included Hillhouse, BlackRock, Temasek and Infore Capital. Sany said it plans to usage the funds for overseas expansion, R&D, integer upgrades and sustainability efforts.
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