Fast-fashion retailer Shin is looking to raise about $2 billion to $3 billion in a Hong Kong initial public offering, possibly as early as August, Bloomberg News reported Monday, citing people familiar with the matter.

Shin received the green light from China’s securities regulator on Friday for a Hong Kong IPO, clearing a major hurdle in its long-running quest for a public market debut.

The final amount will depend on the company’s valuation and investor demand, and the timing and size of the offering could still change, Bloomberg reported.

Earlier in the day, Reuters reported that Shin was scheduled to appear before the Hong Kong Stock Exchange’s listing committee for an IPO hearing on Thursday, adding that the company would be required to answer questions from committee members.

A source told Reuters on Friday that Shane could likely aim to list in September or October, targeting a valuation of $40 billion to $50 billion. The company is valued at $100 billion in 2022.

Shane, which sells $5 dresses and $10 jeans in about 150 countries, can hold investor roadshows and start book building for an IPO after getting clearance from the exchange.

The IPO will be a significant milestone for Shane after previous attempts to list in the United States and London failed.

Founded in 2012 by Chinese-born entrepreneur Sky Zhu, Shen waited a year for Beijing’s green light for its Hong Kong IPO after filing confidentially last July.