Xugong looks at overseas listing

Construction machinery manufacturer Xuzhou Construction Machinery Group (Xugong) said it intends to rope in a new strategic investor and list overseas after completing its asset restructuring, China Business News reported, citing the group Chairman Wang Min.

The State-owned group intends to list overseas in the next five years, "either in the US or Hong Kong", the report said, citing Wang.

Industry experts said the overseas listing would fuel the machinery manufacturer's global dreams.