Foshan Haitian Flavouring and Food, a Chinese seasonings producer, plans to price a CNY1.86bn ($308m) initial public offering (IPO) on 22 January to fund the expansion of soy sauce production capabilities.
The company said that it will start selling up to 10% of its capital or 79 million shares to investors and will go public as soon as possible following the share sale.
Foshan Haitian will take orders from investors between 23 and 24 January, reported The Wall Street Journal.
The latest is the second largest IPO since the China Securities Regulatory Commission lifted suspension in late 2013.
In October 2012, the country imposed a ban on IPO, to boost confidence among investors who have been suffering from declining stock markets.
For the first nine-month period of 2013, Foshan Haitian reported 37% rise in net profit to CNY1.21bn with revenues up 18% to CNY6.29bn in comparison with the year-ago period.
For fiscal 2013, it expects up to 35% rise in net profit to CNY1.62bn.
Foshan Haitian Flavouring & Food produces seasonings and condiments, including soy sauce, oyster sauce, vinegar, flavoring sauce, chicken stock, monosodium glutamate and oil.
