One of China’s largest construction machinery makers Sany Heavy Industry Co. is planning to be the first Chinese company to list in Switzerland.
Sany will offer Global Depository Receipts on the Swiss bourse, the company said in a Shanghai Exchange filing on March 15. Details are being discussed and awaiting approval.
Sany intends to use the funds to boost overseas sales, especially in Europe and North America.
Sany has been the biggest seller of excavators in China for more than ten years. Apart from that, it ranked fourth globally in the world among all machinery makers, with 7.5 percent of the world market. Caterpillar leads the industry with 13 percent of global sales.
