The mainland's largest retailer and its top maker of down garments have each kicked off listing plans in Hong Kong, aiming to raise a total of almost US$200 million. Lianhua Supermarket, the mainland's largest retail chain operator, is looking to raise US$100 million in its proposed SAR listing in March, according to market sources. The planned flotation comes as Jiangsu Bosideng, the largest maker of down garments in the mainland, gears up for a Hong Kong listing in the first half of this year. Bosideng was looking for less than US$100 million, a source said. Both companies are counting on their leading positions in China's expanding economy to attract investor interest. Lianhua is 51 per cent owned by Shanghai-listed Shanghai Friendship Group, backed by the city government. With 26.2 per cent year-on-year growth in turnover to 14.06 billion yuan (about HK$13.19 billion), Lianhua ranked first among retail chains for the third consecutive year in 2001, according to the State Economic and Trade Commission. 'The exact listing timetable is not finalised as it is subject to market environment. But the company targets to list in March,' another source said. Auditing work had not been completed, the source said. BNP Paribas Peregrine is the book-runner of the issue. The investment bank is also the joint lead manager of the flotation, together with HSBC Holdings. Lianhua is expected to use the funds to expand its business in a bid to fend off growing competition from mainland and overseas rivals such as China Resources' Vanguard Department Store and Carrefour. The retailer reportedly aims to expand to 6,000 stores in five years, with an annual turnover of 80 billion yuan. Jiangsu Bosideng would also use the funds to expand production facilities and for overseas growth. The garment maker, founded by Gao Dekang in 1976, first unveiled its listing plan on its Web site at the beginning of last year. In April last year, the company appointed BNP Paribas Peregrine as the underwriter of the offering. The maker of big, puffy down jackets sold more than 10 million down jackets under the Bosideng brand name and racked up 3.18 billion yuan in sales, up 50 per cent from 2000.