Chinese staff are seen at the stand of Changsha Zoomlion Heavy Industry Science & Technology Development Co. during the 2010 International Trade Fair
Image details
Contributor:
Imaginechina Limited / Alamy Stock PhotoImage ID:
W9AWJFFile size:
31.8 MB (1.5 MB Compressed download)Releases:
Model - no | Property - noDo I need a release?Dimensions:
4080 x 2720 px | 34.5 x 23 cm | 13.6 x 9.1 inches | 300dpiDate taken:
25 November 2010Photographer:
ImaginechinaMore information:
Chinese staff are seen at the stand of Changsha Zoomlion Heavy Industry Science & Technology Development Co. during the 2010 International Trade Fair for Construction Machinery, Building Material Machines, Construction Vehicles and Equipment, known as BAUMA China 2010, at Shanghai New International Expo Centre (SNIEC) in Shanghai, China, November 25, 2010. Changsha Zoomlion Heavy Industry Science & Technology Development Co. is seeking as much as $2.1 billion in a Hong Kong stock sale as Chinese growth spurs demand for construction equipment. The worlds largest supplier of concrete-making machinery is offering 870 million shares at HK$13.98 to HK$18.98 a piece, according to terms for the transaction. Zoomlion, which is already listed in Shenzhen, China, will have a market value of $12.7 billion if the sale is priced at the top of the range, according to the terms. Zoomlion, which also makes cranes, roadmaking equipment and fire trucks, plans to raise funds as China boosts spending on building highways, factories and railways. The sale values the company at as much as 15.6 times next years expected earnings, compared with about 15 times for Hong Kong-listed wheel loader maker Lonking Holdings Ltd.