Beloved Hong Kong-based restaurant chain Tai Hing Catering Group aims to raise up to HK$950 million ($120 million) in an IPO in the city, as the company unveiled ambitious plans to further expand into the lucrative mainland market.

The operator of a chain of “cha chaan teng,” or Hong Kong-style diners, will offer 250 million shares, or 25% of its share capital, according to a prospectus filed to the Hong Kong stock exchange Thursday. The company has set its indicative price range between HK$2.80 and HK$3.80.

The floatation is the first major public offering of a restaurant chain in Hong Kong since 2012, when rival Tsui Wah raised a slightly lower amount of HK$760 million in its debut, to fuel expansion in Shanghai and Guangdong.

Tai Hing is also on track to grow its presence on the mainland, with 36 new outlets set to open across China in the next three years.