Clifford Chance (CC) and Simpson Thacher Bartlett are advising on the planned $1bn (£645m) Hong Kong initial public offering (IPO) of China milk producer Liaoning Huishan Dairy. 

The company, which is expected to begin pre-marketing this week, is looking to raise funds to increase its herd of cattle and boost production, according to media reports.

CC is acting for the issuer with a team being led by corporate and securities partner Cherry Chan in Hong Kong.

Simpson Thacher Bartlett is representing the banks, with capital markets and M&A partner Christopher Wong, also in Hong Kong, heading up the US firm's team.

On its website, the milk producer, whose headquarters are located in the Liaoning Province, says it has 120,000 cows in addition to its grassland, cattle-feed processing plants and dairy production bases.

It has previously invested millions of yuan in Shenyang, Fushun, Jinzhou, Fuxin and other areas for breeding and dairy production, and is thought to be the largest maker of liquid milk and milk powder in Northeast China.

It will join a string of other Chinese dairy companies already listed in Hong Kong, including Mengniu Dairy, China Moden and Yashili International.

China's dairy companies have been trying hard to raise their profile since the Chinese milk scandal in 2008, where thousands of infants fell ill after consuming contaminated milk produce.

The milk makers have also been competing with each other to increase their marketshare in China as demand for milk has been growing in the country.

In June, China's biggest industry player Mengniu Dairy said it would buy a majority stake in Yashili International, for $1.7bn (£1.1bn).

Earlier in the year it also increased its stake in milk producer China Modern Dairy from 1% to 28%, and agreed a joint venture arrangement with French food company Danone.