InvestIdeas

Sany Heavy Equipment is targeting up to HK$2.4 billion from selling 500 million new shares at between HK$4.10 and HK$4.80 each.

Sany, which makes coal mining plant, will float 500 million shares at HK$4.10 to HK$4.80 apiece, sources say.

The firm aims to list on November 25.

Source: The Standard HK

Sany Heavy Equipment International, which also kicked off its IPO yesterday, was 3.79 times oversubscribed, freezing HK$1.15 billion.

From Dr. Check, The Standard HK:-

You can also try your luck applying for Sany Heavy Equipment. It designs and manufactures coal mining equipment in China. With a low PE of 14.6 times, it is worth placing your order before noon today at the latest. The issue size is small at just 500 million shares.

The machinery sector is popular nowadays. Take a look at the stock price performance of Weichai Power (2338) and you will know what I mean.

Stockbuyers also subscribed to HK$16.96 billion worth of Sany's shares - 70 times more than it aims to raise from the public offering

Sany attracted HK$55.4 billion worth of subscriptions from retail investors - being oversubscribed by 230 times.

DJ Sany Raises US$308 Mln In HK IPO; Prices At Top End - Source

HONG KONG (Dow Jones)--Sany Heavy Equipment International Holdings Co. (0631.HK) raised US$308 million in a Hong Kong initial public offering by pricing its shares at the top end of its indicative price range, a person familiar with the situation said Wednesday.

The company, which develops and produces coal mining machinery, sold 500 million new shares, or 25% of its enlarged share capital, at HK$4.80, the top end of a HK$4.10-HK$4.80 range, the person said.

Sany also has an option to increase the size of the deal by 15% to raise a total US$354 million.

Sany's listing is scheduled for Nov. 25.

HSBC Holdings PLC (HBC) and Standard Chartered PLC (STAN.LN) are the bookrunners on the deal.

Source: Amy Or, Dow Jones Newswires

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

Retail investors' appetite for new listings increased again as Sany Heavy Equipment gained over 20 percent while Fantasia climbed 12.39 percent in the gray market.

Sany closed at HK$5.77 - 20.21 percent higher than its offer price of HK$4.80, bringing a paper gain of HK$970 per board lot of 1,000 shares, according to Phillip Securities.

Source: The Standard HK

Applied.

DJ MARKET TALK: Strong Sany Debut Tipped; Sector Leader Premium

0837 [Dow Jones] NEW LISTING: Sany Heavy Equipment (0631.HK) set to rise on strong IPO response, with retail tranche 267X oversubscribed, enabling coal mining machinery maker to price offering of 500 million new shares (25% of enlarged share capital) at HK$4.80, marking top of HK$4.10-HK$4.80 indicative range, translating into 19X forecast earnings this year, which higher than Lonking's (3339.HK) 15X based on Thomson Reuters, but probably justified given Sany's dominant industry position as China's leading manufacturer of roadheaders.

Net proceeds at HK$2.28 billion; retail investors allotted 250 million shares after clawback. HSBC (0005.HK), StanChart (2888.HK) are bookrunners. Shares traded on gray market ended Tuesday +20.2% at HK$5.77

Source: Dow Jones Newswire