Health-care product distributor Hing Sang Group (International) has secured approval to raise up to HK$220.6 million through listing on the main board.

In a filing with the stock exchange, it said it would issue 200 million shares at no more than HK$1.20 each. Of the total shares, 10 per cent will be offered to the public and the rest to institutional investors.

About 48 per cent, or HK$96.8 million, of the money raised will be used for exploring business collaboration opportunities with new brands and a further HK$50 million for expanding the sales and distribution network.