Red Avenue New Materials (SHA:603650) obtained the filing notice from China's securities regulator for its planned H-share issuance in Hong Kong.
The company plans to issue up to 78.7 million overseas-listed ordinary shares on the Hong Kong Stock Exchange's Main Board.
The new chemicals maker must complete the offering within 12 months or update its filing materials.
The issuance still requires clearance from the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange.