Harbin Brewery Group, the fourth largest beer producer in China, is planning an initial public offering thought to be worth between HK$200m to HK$300m ($25.6m-$38.5m) on the Hong Kong stock exchange. Based in the northeastern Chinese province of Heilongjiang, Harbin is reported to have appointed British investment bank Cazenove as the book runner, with First Shanghai Capital thought to be the listing sponsor.