Global law firm Ashurst has acted as the international sanctions counsel to SANY Heavy Industry Co., Ltd. ("SANY Heavy Industry"; HKEX stock code: 6031) on the successful listing of its H shares on the Main Board of the Hong Kong Stock Exchange. This milestone transaction stands as one of the largest construction machinery IPOs globally in recent years and is the third-largest Hong Kong IPO on the Hong Kong SAR market to date in 2025.
Founded in 1994, SANY Heavy Industry is a global leader in the construction machinery sector, driven by innovation. The company is dedicated to the research and development, manufacturing, sales, and service of a comprehensive portfolio of construction machinery products. SANY's products are sold in over 150 countries and regions worldwide, making it the largest construction machinery company in China and the third-largest globally.
The Ashurst team advising on this transaction was led by Alexander Dmitrenko, Tokyo office managing partner, with the support from senior associate Vicki Tang. Additional support was provided by associates Kenneth Lee and Eleanor Zhao, as well as legal manager Joyce Ng.
Alexander commented: "We are honored to have supported SANY Heavy Industry in its Hong Kong IPO. We appreciate the trust SANY has placed in us to advise on complex international sanctions, export controls, and related regulatory and compliance matters. Our team remains committed to assisting SANY with its ongoing compliance needs and future endeavors."
Ashurst's global sanctions team comprises international trade compliance experts, covering sanctions, export controls, US outbound investment regulations, tariffs, supply chain compliance, and other related legal areas. Led by the Tokyo office and supported by lawyers qualified in the US, UK, Hong Kong, Canada, the EU, and Australia, Ashurst provides comprehensive international trade advice and has become a trusted legal advisor to numerous Chinese enterprises pursuing Hong Kong listings.
