The Hong Kong bourse approved Thursday Foshan Haitian Flavouring and Food's (SHA:603288) plan to list in the city, Reuters reported Friday, citing two sources with knowledge of the matter.

Foshan Haitian's Hong Kong listing is expected to raise $1 billion, the report said, citing the sources.

Bookbuilding is expected to start as early as the last two weeks of May, the report said.

Foshan Haitian is already listed on the Shanghai bourse.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)