SANY Heavy Industry Co, China's biggest maker of pumps for concrete, said the national securities regulator approved an audit, bringing the company a step closer to getting permission to proceed with a private share sale.

The company will wait for further approval from the China Securities Regulatory Commission to sell the shares, Sany Heavy said in a statement to the Shanghai stock exchange yesterday. It didn't give details of the offering, Bloomberg News reported. The Changsha-based company halted trading of its shares for one day to submit the share-sale application, Sany Heavy said on Tuesday.