Topsports International, the sportswear business of footwear retailer Belle International, sought listing approval last week for a Hong Kong IPO of about US$1bn.
Pre-marketing will start this week if approval is granted, said people close to the deal.
Bank of America Merrill Lynch and Morgan Stanley are the joint sponsors.
Belle’s sportswear unit distributes brands such as Nike and Adidas.
The company operates a nationwide retail network that included 8,343 directly operated stores as of February 28 2019.
According to Frost & Sullivan, Topsports was the largest sportswear retailer in China by sales value in 2018, with a 15.9% market share.
For the year ended February 28, the company posted a net profit of Rmb2.2bn (US$281m), up 53% from a year earlier.
In 2017, a consortium led by Hillhouse Capital and CDH Investments took Belle private in a HK$53.1bn (US$6.8bn) deal.
Hillhouse owns a stake of about 57% in Belle and CDH around 12%. A group of Belle managers own the remaining 31%.