Market Chatter: Sany Heavy Industry Explores Hong Kong IPO for Electric Truck Arm

MT Newswires Live05-06

Sany Heavy Industry (SHA:600031) is considering an initial public offering in Hong Kong for its subsidiary, Hunan Xingbida Network Technology, China Daily Asia reported Wednesday.

Sources said the electric truck manufacturer aims to secure approximately $500 million through the listing, according to the report.

Sany Heavy Industry's rival, Xuzhou XCMG Automobile, is also rumored to be seeking a similar $500 million debut, China Daily Asia wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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