Chinese truckmaker Xuzhou XCMG Automobile Manufacturing Co. is considering a
Hong Kong IPO that could raise as much as $500 million as soon as this year,
according to people familiar with the matter. The company, based in Jiangsu, is
still discussing deal size and timing. XCMG Auto produces heavy-duty trucks,
including electric, hybrid and hydrogen fuel-cell models used in logistics,
construction, sanitation and mining. It previously raised about 6.4 billion yuan
($940 million) from 30 investors last year. Hong Kong listings have raised $19.4
billion so far this year and could exceed $40 billion in 2026, according to
data.
