Win Hanverky Holdings, the largest apparel supplier for the Adidas Group in China, hopes to raise up to 600 million Hong Kong dollars via its initial public offering next month in Hong Kong, in a move to fund capital expansion to increase its production capacity and distribution business in China, The Standard reported. "The offering seems not likely less than 500 million Hong Kong dollars as the company needs fresh capital to capitalize on the strong growth in the booming sporting market in China," said the paper. Win Hanverky plans to expand its number of outlets from the current 650 to 1,000, while increasing production capacity by 30 percent by the end of this year, according to DBS. The total number of outlets is expected to rise to 1,500 in two years. China's sportswear market saw sales of 65 billion yuan in 2004 and is expected to boom further with the Beijing Olympics in 2008.