Shanghai-based Jinjiang Hotels Group is planning a public listing in Hong Kong in the third quarter of this year.

The hotel expects to raise about US$400-500 million through the public offering If successful, Jinjiang Hotels Group will become the first hotel stock in Hong Kong that is completely held by a mainland corporation.

Hong Kong media reports that the plan to list Jinjiang's H stock is still waiting for the approval from the China Securities Regulatory Commission (CSRC). The company also still has not handed their application to the Hong Kong Stock Exchange.

Jinjiang Hotels Group boasts a registered capital of RMB3.3 billion. At present, it has more than 200 hotels in 59 cities in China, of which 11 are 5-star hotels.