HONG KONG: Sany Heavy Equipment Co plans to raise at least $200 million in a Hong Kong initial public offering in the fourth quarter, two unnamed sources familiar with the matter said.

The Shenyang, Liaoning province-based company hired HSBC Holdings Plc to manage the sale and may add another arranger, the sources said, declining to be identified.

Hu Xuewen, a Changsha, Hunan-based spokeswoman for Sany Group, said she had no information about the IPO. Maggie Cheung, a spokeswoman for HSBC in Hong Kong, declined to comment.

Sany Heavy Equipment is part of the 20-year-old Sany Group, which posted revenue of 20.9 billion yuan ($3.06 billion) last year from sales of machinery for construction, mining, ports and windpower systems. The group's Sany Heavy Industry Co unit, the nation's largest supplier of concrete-making equipment, is listed in Shanghai.

Bloomberg News

(HK Edition 07/29/2009 page4)