Haidilao International Holding Ltd., a Beijing-based hotpot restaurant chain, will seek approval for an IPO from the Hong Kong Stock Exchange's listing committee on Aug. 23, Bloomberg News reported Aug. 15, citing people familiar with the matter.

Sources reportedly said that Haidilao's initial public offering in Hong Kong may raise up to $1 billion.

In May, Haidilao International applied to launch an IPO in Hong Kong. The company did not disclose listing details, such as pricing, size and date on its filing to the stock exchange.

If the restaurant operator gets approval for a $1 billion public offering, it would be the largest consumer IPO in the country in 2018, the Bloomberg report said.

A Hong Kong-based external representative for Haidilao reportedly declined to comment.