Foshan Haitian Flavouring and Food (SHA:603288, HKG:3288) is considering increasing the size of its Hong Kong initial public offering to raise up to HK$10.1 billion, The Standard reported Monday, citing the International Financing Review.

The report said the Chinese maker of soy sauce and other condiments will set its offer price at HK$36.30, the upper end of the price range.

Haitian had earlier targeted proceeds of nearly HK$9.6 billion, according to its prospectus.

According to the prospectus, Haitian is offering over 263 million new shares, of which the retail tranche accounts for 6 percent.

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