Chinese restaurant chain Xiao Nan Guo Group plans to list on the Hong Kong stock market in the latter half of the year, Beijing Business Today reported Tuesday.

The initial public offering (IPO) is expected to raise US$300 million and will be underwritten by Bank of America Merrill Lynch and Standard Chartered Bank, the newspaper said.

Xiao Nan Guo set up its first restaurant in Shanghai in 1987. It currently operates around 30 large Chinese restaurants Hong Kong, Tokyo, Beijing, Shanghai, Suzhou, Nanjing and other cities. It also has spa chains, Japanese barbeque chains, Japanese noodle chains, Hong Kong dessert chains and hotels.

China's business press carried the story above on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.