The Chinese mainland’s Sany Heavy Industry Co is starting to gauge investor interest in its Hong Kong listing, according to the deal’s terms seen by Bloomberg News, inching closer to what would be among the special administrative region’s biggest first-time share sales this year.

The construction-machinery maker will conduct so-called investor-education meetings this week starting Monday, the terms show. The company plans to list its shares in the coming weeks to raise around $1.5 billion, people familiar with the matter have said.

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Sany Heavy’s listing would add to a recent wave of fundraising by mainland firms, which has fueled a strong revival of stock listings in the Asian financial hub. Bloomberg Intelligence estimates total proceeds from first-time share sales in the city to top $26 billion in 2025.

Founded in 1994, the company counts equipment contractors, construction companies, mining operators and infrastructure developers among its customers. It reported a profit of 6.1 billion yuan ($854 million) in 2024, up 32 percent from the previous year.

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Sany Heavy plans to use 45 percent of the Hong Kong listing’s proceeds to further develop its global sales and service network, the terms show. It is also set to use 25 percent of the proceeds for enhancing its research and development, 20 percent for expanding overseas manufacturing capabilities and boosting efficiency, and the rest for working capital and general corporate purposes.

Sany Heavy is already listed in Shanghai, where its shares have risen almost 40 percent this year.

Citic Securities Co and China International Capital Corp are overall coordinators of Sany Heavy’s listing.