China Liaoning Panpan Group, the mainland's largest producer of anti-theft steel doors, will seek a Hong Kong listing to finance an upgrade of production facilities and the development of high-technology products.
Director and general manager Han Zhaoshan said the company would study whether a listing on the main board or the proposed second board would best suit its corporate development.
Its domestic financial adviser, China M&A Management, said China Liaoning Panpan could aim to raise more than $400 million from a Hong Kong listing.
M&A chairman Wang Wei said the proposed listing would help the company consolidate its market leader position, move into hi-tech product development and facilitate mergers and acquisitions.
Mr Wang and Mr Han were among a delegation of a dozen mainland firms which visited Hong Kong last week to explore listing prospects.
Mr Han said he hoped to use part of the listing proceeds to fund the automation of production of anti-theft doors and garage doors.