China | XZ construction--China's XZ Construction plans Hong Kong IPO

SHANGHAI Jan 5 (Reuters) - China's XZ Construction , a maker of construction machinery, plans to float its shares in Hong Kong, the company said in a filing with the Shenzhen Stock Exchange on Wednesday.

The size of the planned Hong Kong IPO will not exceed 20 percent of its enlarged capital after the IPO, said XZ Construction.

The Shenzhen-listed company said it will hold a shareholder meeting later this month to seek shareholder approval for the listing plan.

XZ Construction follows the footsteps of rival Zoomlion which raised $1.7 billion from a Hong Kong listing late last year. (Reporting by Soo Ai Peng and Ruby Lian; Editing by Lincoln Feast)

Source: Reuters