Chinese machinery makers seek $5 billion from Hong Kong listings

Two Chinese machinery makers are going ahead with their Hong Kong listing plans despite lingering concerns over the current volatile market.

Sany Heavy Industry and its domestic rival XCMG Construction Machinery, both listed on the A-share market, are seeking a Hong Kong listing in the coming two months. Sany has filed a listing application to the Hong Kong stock exchange for an initial public offering of up to $3 billion, while XCMG is aiming to raise up to $2 billion, according to sources.

The two deals, along with the Citic Securities’ estimated $3 billion IPO and New China Life’s $4 billion offering, which are also scheduled...