SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Sany Heavy Industry, one of China’s largest machinery manufacturers, is aiming to raise up to HK$12.36 billion (US$1.59 billion) through its initial public offering in Hong Kong, according to a company filing on Monday. The IPO marks a significant move as the company seeks to capitalize on renewed investor interest in Chinese listings in the city.
The heavy equipment maker plans to sell 580.4 million shares, priced between HK$20.30 and HK$21.30 each. Earlier this year, Reuters reported that Sany Heavy was targeting an IPO of around US$1.5 billion, placing the latest figure in line with those expectations.
A group of cornerstone investors has already committed approximately US$759 million to the deal. Notable participants include Temasek Holdings, investing about US$75 million, alongside global investment firms Hillhouse, UBS Asset Management, BlackRock, and Oaktree Capital. Their participation signals strong institutional confidence in Sany Heavy’s growth prospects and Hong Kong’s IPO market.
The listing underscores Hong Kong’s resurgence as a preferred offshore fundraising hub for Chinese companies. As regulatory scrutiny in the United States intensifies, more firms are opting for Hong Kong over New York for their listings. Recently, Toymaker Miniso announced plans to spin off its brand Top Toy for a separate Hong Kong listing, while China’s autonomous driving startup Momenta is reportedly considering shifting its IPO from the U.S. to Hong Kong.
According to LSEG data, Hong Kong has reclaimed its position as the world’s leading exchange for IPO volume and secondary listings in 2025, surpassing the New York Stock Exchange.
Sany Heavy Industry specializes in manufacturing excavation, lifting, road construction, and pile-driving equipment. The company operates factories and offices across the U.S., Europe, India, Brazil, and Germany, with five major manufacturing hubs in China, reinforcing its global industrial footprint and expansion strategy.
