Huiyuan Juice, one of China's few national juice brands, looks set to start its initial public offering on the Hong Kong Stock Exchange.

The IPO is expected to begin tomorrow and shares are expected to formally begin trading on 23 February.

The company, in which French group Danone owns a 22.2% stake, is reportedly looking to raise up to HK$2.4bn (US$308m) from the listing.

However, when contacted by just-drinks today (7 February), Huiyuan's chief spokesperson refused to confirm the reports.

Huiyuan is said to be looking to expand capacity with new plants and upgrade its sales network. The company's position as China's leading brand in the premium 100% juice market should attract investors. The firm has a 42% market share in pure juices and 40% in nectars.

Pure juices are a small part of China's fast-growing juice drinks market but rising awareness of nutrition and increasing wealth is expected to increase demand for such vitamin-rich products.