Chinese automotive financial services company Shanghai Dongzheng Automotive Finance Co., (SDAF) is in talks to grab about $428 million in a stock market listing in Hong Kong (HK).

SDAF, the unit of car dealer China Zhengtong Auto Services Holdings Ltd., will offer 533.3 million shares at $0.54 to $0.80 apiece.

The initial offering is expected to take place on March 19 and begin trade March 26.

With the net funds, SDAF intends to fund retail credit to customers, including debts from Zhengtong Auto Services.