Sany Heavy Equipment Co. hopes to raise at least HK$1.56 billion (more than U.S. $200 million) in an initial public offering in Hong Kong during the fourth quarter, according to the Hong Kong Economic Journal.

Sany has appointed HSBC as the sponsor of the issue, the report said, and may hire another investment bank to handle the share sale. Sany Heavy Equipment Co. is a unit of Sany Group, which also owns Sany Heavy Industry.