Sany Group Is Said to Consider IPO for Electric Truck Unit in Hong Kong

Chinese heavy equipment manufacturer Sany Group is considering a Hong Kong initial public offering for its electric truck business, according to people familiar with the matter.

The electric truck maker, Hunan Xingbida Network Technology Co., could raise about $500 million in an IPO, the people said, asking not to be identified because the information is private. Deliberations are ongoing, they said.