The China Securities Regulatory Commission (CSRC) is understood to have given eight mainland enterprises approval to issue shares abroad.
Representatives of the enterprises gathered in Beijing yesterday for a briefing and training session.
Of the eight candidates, five are infrastructure plays, including Ningbo Port, Wenzhou Development, Hebei Expressway, Beijing Capital Airport and Shandong Expressway.
The remaining three are agriculture concerns Heilongjiang Beidahuang Agribusiness (HBA) and Guangdong Agribusiness, and Zhejiang Tourism.
HBA, which intends to raise HK$2 billion, is expected to be among the first to come to market.
The issue, sponsored by ING Barings, BNP Prime Peregrine and HSBC Investment, has already had an application filed with the Hong Kong Stock Exchange, sources said.