Cautious Optimism Underpins Sany's Planned IPO

The news that China-based construction machinery firm Sany Heavy Industry is pushing ahead with a planned IPO of around US$3.5bn on the Hong Kong stock exchange underlines the firm's commitment to expanding its business, both domestically and internationally, and reflects the growing confidence among Chinese construction machinery companies. BMI notes that rapid sales growth combined with an increasingly ambitious growth strategy over the last 18 months have brought massive gains for Sany's share price. We believe that despite recent turmoil in global markets, the company has reason to be cautiously optimistic over the upcoming listing.

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