Hotel chain Atour Lifestyle Holdings Ltd is considering a second float in the Hong Kong Special Administrative Region, according to people familiar with the matter, the latest US-listed Chinese mainland firm to weigh such a move.

The Shanghai-based chain is working with advisers on a share sale to potentially raise several hundred million dollars, the people said, asking not to be named because the information is not public.

Deliberations are ongoing and details such as the size of the deal have not been decided, the people added.

Atour did not respond to a request for comment.

ALSO READ: Mainland’s top medical device maker 'mulling second listing in HKSAR'

Established in 2013, Atour has a network that includes about 1,600 hotels in more than 200 mainland cities. The company, which generated $993 million in net revenue last year, went public in late 2022 on the Nasdaq Global Select Market.

Its American depositary receipts have more than tripled since, valuing the company at about $4.8 billion. 

Atour would join lidar maker Hesai Group and autonomous-driving firm Pony AI Inc in seeking additional listings in the HKSAR, a trend that is giving an extra boost to the city’s now sizzling market.

READ MORE: Analysts see PDD listing in HK as more likely after auditor change

An even bigger candidate could be waiting in the wings. Temu parent PDD Holdings Inc has switched to a HKSAR-based auditor, which some analsysts suggest could indicate that the mainland e-commerce firm may be preparing to apply for a second listing too.