International Housewares Retail is planning massive expansion across Hong Kong and other parts of Asia.

The retailer, which owns Japan Home Centre, plans to open 200 new stores over the next three years, taking its total to 483.

To fund the expansion plan, the company plans to raise up to HK$607 million ($78.3 million) through an IPO in Hong Kong.

LIM Asia Special Situations Master Fund Limited will act as cornerstone investor by committing 10 per cent of the fund size, up to maximum amount of $8 million.

The retailer says revenues from established markets such as Hong Kong, Macau and Singapore will support its stores in the mainland China and Malaysia which are still in their initial development stage and yet to become profitable.