Sany may delay listing

Source:Reuters Published: 2012-6-29 1:00:04

Sany Heavy Industry will postpone its planned listing on the Hong Kong Stock Exchange if market conditions remain weak, the president of its parent company said Thursday.

"If the market is not good, we will continue to delay the IPO," Tang Xiuguo, Sany Group's president, told reporters Thursday.

Media reports said in May that the Hunan-based company had filed for a $2 billion Hong Kong listing, which was 40 percent lower than the $3.3 billion the construction machinery maker intended to raise last year.

Sany Heavy is currently listed on the Shanghai Stock Exchange. The Hong Kong IPO would be equivalent to 10 percent of its enlarged capital.



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