SANY(SH:600031) Xin Lang Cai Jing·2025-10-20 05:58Core Viewpoint - Sany Heavy Industry, a leading global engineering machinery company, is launching an IPO in Hong Kong from October 20 to October 23, 2025, with plans to list on October 28, 2025, under the sponsorship of CITIC Securities [3][5]. Group 1: IPO Details - The company plans to issue 580.4246 million H-shares, representing 6.41% of total shares post-IPO, with a 15% over-allotment option [5][6]. - The price range for the shares is set between HKD 20.30 and HKD 21.30, aiming to raise approximately HKD 123.63 billion at the upper end of the range [5][6]. - The IPO will adopt Mechanism B, with an initial public offering allocation of 10% and no reallocation mechanism [6]. Group 2: Use of Proceeds - Approximately 45% of the net proceeds will be used to enhance global sales and service networks, 25% for R&D capabilities, 20% for expanding overseas manufacturing and optimizing production efficiency, and 10% for working capital and general corporate purposes [7][8]. Group 3: Key Investors - The IPO has attracted 23 cornerstone investors, collectively committing USD 758 million (approximately HKD 58.99 billion) [6][7]. - Notable cornerstone investors include Temasek, UBS, and BlackRock, among others [6][7]. Group 4: Company Background - Founded in 1989, Sany Heavy Industry has evolved into a leading player in the global engineering machinery sector, focusing on a full range of products including excavators, concrete machinery, and cranes [8][10]. - According to Frost & Sullivan, Sany is the largest engineering machinery company in China and ranks third globally by cumulative revenue from 2020 to 2024 [10].