Goodbaby International Holdings, which makes children's products for retailers such as Britain's Mothercare, says it will expand into North America and Europe markets even though growth on the mainland is faster in comparison. The mainland manufacturer, which has factories in Kunshan and Ningbao, is raising up to HK$1.5 billion in an initial public offering to boost its production capacity and fund development of new products. In addition to its core product, strollers, Goodbaby's founder and chairman Song Zhenghuan said Goodbaby hoped to increase its market share in products such as baby car safety seats and other accessories. 'The business growth rate is faster in China than in other overseas markets for sure,' Song said. 'But in European markets there's still room for us to come up with new products and to increase our market share.' On the mainland, Goodbaby sells its own branded products 'Goodbaby' and 'Happy Dino' through maternity and specialty stores, hypermarket outlets, and department stores. The offering has been priced between HK$3.7 and HK$4.9 per share. Hong Kong's IPO market has picked up. A proposed listing by Shangdong-based organic chemical maker China New Materials has just been approved by the Hong Kong stock exchange, and the company aims to go public next month, said a person familiar with the plan. According to up-to-date IPO figures from data provider Dealogic, Hong Kong has topped New York and London as the market in which the most IPOs and capital have been raised this year. There have been 65 new listings in Hong Kong this year, raising a total of US$47.8 billion, while New York has had 63 with a total of US$12.3 billion raised, and London just 18 with a total of US$10.2 billion raised.