December 13 -- Changsha Zoomlion Heavy Industry Science and Technology Development (000157,0157.HK) started the subscription process for its H-share initial public offering (IPO) today, reports China Business News, citing a company filing. The subscription process will last till December 16. 

The company will debut on the Hong Kong Stock Exchange on December 23. It will offer 869.5 million shares in total, including 43.48 million shares to be offered in Hong Kong and 826 million shares globally, accounting for five percent and 95 percent of its IPO.

There is a greenshoe option of 130 million shares. A total of HK$12.1 billion may be raised through the IPO based on its subscription price of between HK$13.98 and HK$18.98 per share.

Zoomlion is a maker of construction machinery, cranes and environmental sanitation machinery. It generated revenue of 20.76 billion yuan in 2009.

Zoomlion’s share of the domestic market for concrete pump trucks, concrete pumps, concrete mixer trucks and concrete mixing plants as of end 2009 were 37 percent, 25.6 percent, 14.3 percent and 8.7 percent, respectively.