Shandong International Transportation Corp (SITC)'s planned flotation in Hong Kong looks to have grown even larger than originally anticipated.

Just a few weeks ago, reports suggested it has slashed the amount it was seeking through the initial public offering (IPO) but the private containership owner has now topped its best previous estimate.

Reports indicate that the Qingdao-based outfit is eyeing HKD 4.08bn ($525.27m) from the sale, which could go ahead as early as 6 October.

This is up from the $500m the owner was mooted to be seeking at the end of July. In late August, reports suggested that this had been scaled back to HKD 2.3bn.

SITC is still looking to sell off 650 million shares in the float, with pricing set at between HKD 4.78 and HKD 6.28 per unit, terms for the sale show. Pricing had not been expected to be announced until 24 September.

SITC's website currently lists it as owning 13 boxships of between 378 teu and 907 teu. The fleet is relatively young with the majority built in 2006 and 2007 and others in 2004, 2002 and one in 1997. It also controls a further 40 or so ships through long-term charters. It operates 49 routes across China, Japan, South Korea and Southeast Asia.