Sany Heavy sets timetable for $300 mln HK IPO

HONG KONG, Nov 2 (Reuters) - Chinese coal mining equipment maker Sany Heavy Equipment International Holdings Company Ltd aims to raise about $300 million in a Hong Kong initial public offering this month, a term sheet seen by Reuters showed on Monday.

The company, which started pre-marketing on Monday, plans to sell 500 million new shares, or 25 percent of its enlarged share capital, to finance its new production facilities and upgrade existing facilities, the term sheet said.

The firm, a unit of machinery maker Sany Group, aims to kick off its marketing roadshow on Nov. 12 and will price its shares on Nov. 24, with trading expected to begin on Dec. 2.

Sany Heavy Equipment is the largest manufacturer of roadheaders for coal mining in China, providing one-stop coal mining solutions and comprehensive coal mining equipment to coal firms.

HSBC (0005.HK) is the sponsor and global coordinator of the deal. (Reporting by Kennix Chim, Editing by Jacqueline Wong)