China's ZOOMLION says plans H share issue

July 7 (Reuters) - Chinese machinery maker Changsha Zoomlion (000157.SZ) said on Wednesday it planned to issue Hong Kong listed H-shares partly to expand its business globally and enhance its technology.

Changsha Zoomlion Heavy Industry Science and Technology Development Co, based in China's central province of Hunan, aimed to float H shares of up to 15 percent of its expanded share capital after issue, it said in a statement published in the official Shanghai Securities News.

The plan needs the approval of shareholders, said the company, which currently has total share capital of 1.97 billion outstanding shares. (Reporting by Lu Jianxin and Soo Ai Peng; Editing by Jonathan Hopfner)

Source: en.zoomlion.com

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