The owners of Hong Kong-listed Sany Heavy Equipment International Holdings are seeking to raise $300 million in a sale of shares in Brazil, The Wall Street Journal reports. The shares will be sold through Brazilian depositary receipts (BDRs) to be listed on the Brazilian stock exchange.
Sany International, controlled by Shanghai-listed Sany Heavy Industry, is planning to sell the BDRs in the second half of 2011. The company plans to sell existing shares in order to develop the company’s investor base. Click here for the story from The Wall Street Journal.