Export consultants Grandtop International Holdings is aiming to raise HK$60 million through an initial public offering on Hong Kong's main board next month. As a future growth driver, the privately owned Hong Kong firm is banking on increasing efforts by mainland manufacturers to fulfil corporate social responsibilities required by United States buyers. Grandtop works to ensure Hong Kong manufacturers comply with vendors' codes of conduct covering environmental protection, forced and child labour, discrimination, work conditions, wages and hours. The company derives its income from fees charged to garment manufacturers which export mainly to the US. It booked a net profit of HK$21.4 million on turnover of HK$27.7 million for the year to March 31, against a HK$20.5 million profit on turnover of HK$26.4 million the previous year. However, Grandtop faces a potential paper loss of about HK$5 million from its investment in Growth Enterprise Market-listed Info Communication Holdings after that firm's stock fell to 3.5 HK cents on October 22. It bought 15.9 million Info shares at 34.5 HK cents in the year to March. Grandtop will sell 60 million shares at HK$1 each. Management will pocket HK$24 million from the sale of existing shares and use the remaining net HK$28.2 million after expenses to set up a Web site and offices in China and the US, and for working capital.