Chinese trading card and collectible toy company Kayou has restarted plans for a Hong Kong initial public offering (IPO) to raise about US$500 million (HK$3.9 billion), according to two sources with direct knowledge of the matter.

The company is planning to lodge its filings with the Hong Kong Stock Exchange (HKEX) as soon as this month, the sources added.

Kayou had initially planned to list in Hong Kong in 2024 but could not get regulatory approval for the deal to go ahead, Bloomberg News reported last year. Chinese regulators slowed the IPO approval process last year as global financial markets were volatile amid high interest rates and major geopolitical events.

Approvals for Hong Kong IPOs are now happening at a faster rate, bankers say.