SANY(SH:600031) Zhi Tong Cai Jing·2025-10-23 06:36Group 1 - Sany Heavy Industry (600031) is conducting an IPO from October 20 to 23, planning to globally issue 580 million H-shares, with approximately 10% for Hong Kong and 90% for international sales, at a price range of HKD 20.3 to 21.3, aiming to raise up to HKD 12.36 billion [1] - The IPO has seen significant interest, with the international placement being oversubscribed multiple times, leading to an early closure of subscriptions on October 22, and total margin subscription amounting to approximately HKD 51.36 billion, indicating a 40.5 times oversubscription [1] - Sany Heavy Industry specializes in the research, manufacturing, sales, and service of construction machinery, holding the top global position in concrete machinery and leading in excavators and large-tonnage cranes in China [1] Group 2 - The IPO features a strong lineup of cornerstone investors, with 23 top-tier institutions committing to purchase shares worth approximately USD 758 million (around HKD 58.99 billion), accounting for nearly half of the expected fundraising total [2] - The net proceeds from the IPO will be allocated as follows: approximately 45% for expanding global sales and service networks, 25% for enhancing R&D capabilities, 20% for increasing overseas manufacturing capacity and optimizing production efficiency, and 10% for working capital and general corporate purposes [2]