Sany Heavy Raises HK$2.4 Billion in IPO, E-Mail Says (Update1) By Bei Hu
Nov. 19 (Bloomberg) -- Sany Heavy Equipment International Holdings Co., China’s largest maker of roadheaders for coal mining, raised HK$2.4 billion ($310 million) from a Hong Kong initial public offering, said a sale document.
The Shenyang, northeastern China-based company sold 500 million new shares, or a 25 percent stake,
at HK$4.80 each, according to the document e-mailed to fund managers late yesterday. Sany earlier offered the shares at a range of HK$4.10 and HK$4.80.
The company is raising money to build
new production facilities, purchase equipment, expand and upgrade existing plants, a share sale document e-mailed to fund managers last week said.
HSBC Holdings Plc and Standard Chartered Plc managed the sale. The stock will start trading Nov. 25.
http://www.bloomberg.com/apps/news?pid= ... qlhNAlfssM
It's all about "how much you made when you were right" & "how little you lost when you were wrong"