ECM Watchbox: Sany, Tenfu, Xiao Nan Guo

Chinese construction machinery company Sany Heavy Industry will launch its Hong Kong IPO on Monday, after a competing deal from XCMG Construction Machinery was delayed by at least a week. The two companies were expected to directly compete for investor demand, but both have struggled to build much momentum with investors, said bankers. Smaller offerings from Tenfu Tea and Xiao Nan Guo Restaurants were already covered ahead of pricing this week.