CENTRON Telecom International Holdings Ltd, a Chinese maker of mobile-phone network equipment, and its stakeholders will seek as much as HK$844.9 million (US$108 million) in a Hong Kong initial public offering, according to an e-mail sent to international institutions yesterday.

The company, based in Quanzhou, Fujian Province, and its stockholders will sell a combined 238 million shares at between HK$2.96 and HK$3.55 each to raise funds to boost its production capacity, according to the e-mail.

Centron will expand to tap growth in China, the world's largest mobile-phone market by users, with 487.4 million subscribers as of the end of April. The pending introduction of high-speed mobile licenses in the country is expected to further boost demand for wireless-phone equipment, Bloomberg News said.

Proceeds from the share sale will also be used to develop new products, widen the company's distribution channels and explore overseas markets, the document said. Centron is offering 175 million new shares and shareholders will sell another 63 million existing shares, it said. JPMorgan Chase & Co is arranging the sale, the document said.

Centron produces wireless-phone equipment that is installed in buildings, subways, tunnels and outdoors to enhance signals between mobile-phone base stations and handsets.