Chinese textiles maker Shandong Ruyi Technology Group Co., Ltd. is preparing for a stock market listing for its jeans and yoga pants elastic material making unit.
The company aims to sell shares in Lycra as soon as this year and is considering the U.S. as a listing venue.
Shandong Ruyi Technology is working with Goldman Sachs Group Inc. on the deal.
The company expects to secure approximately $500 million from the offering.