Sound Global, a Singapore-listed water treatment company, aims to raise as much as HK$1.46 billion from a secondary listing in Hong Kong.
The target is four times more than the company raised from its Singapore initial public offering in 2006.
Sound Global will issue 261 million offer shares at a maximum price of HK$5.60 each, with trading due to start on Hong Kong's main board on July 6.
'Our main business is in China. If we list in Hong Kong, more investors will understand our business better and have more interest in our company, which will be beneficial for our growth,' said chairman Wen Yibo. The company is incorporated in Singapore.
More than 400 cities on the mainland suffer water shortages, according to Sound Global's IPO prospectus. The nation's per capita water resources was 2,048 tonnes in 2008, less than 25 per cent of the world average, ranking the country 109th in the world in per capita water resources.
Although most of the company's business is on the mainland, it gained its first major overseas contract with a 624 million yuan (HK$709.92 million) engineering, procurement and construction (EPC) water project in Saudi Arabia last year.
The company intends to expand its overseas business in Asia and the Middle East, Sound Global chief executive Li Li said.