Dajin Heavy Industry is planning an initial public offering on the Hong Kong Stock Exchange.

The Chinese fabrication company said it submitted a formal application last year. It added that it remains fully privately owned and has funded its rapid expansion through its own resources, including a non-public share offering completed in 2022.

According to the company, the self-funded growth strategy is supporting expansion plans that include a new fabrication plant in Tangshan, the development of a fleet of deck carriers for shipping, and investment in four wind farms and one solar farm in China.

Xin (Peter) Li, senior vice-president of Dajin Heavy Industry, said a listing on one of the world’s leading stock exchanges would give the company access to international funding markets to support the global offshore wind industry through a stronger platform.

The company said that with a market capitalisation of around €5.2bn, it is positioned to continue supporting the offshore wind industry globally as it pursues the Hong Kong listing.