Shanghai-based health-food maker Wuxi Ruinian Group plans to raise as much as US$128 million in a Hong Kong listing next quarter, the South China Morning Post reported. Ruinian has hired UBS as financial advisor and sponsor and has submitted its listing application to the Hong Kong Stock Exchange. CK Life Sciences International (Holdings), a biotechnology firm controlled by Hong Kong tycoon Li Ka-shing, purchased a 17.9% stake in Ruinian for US$19.2 million last year. Ruinian would become CK Life’s first investment to go public. Ruinian mostly produces health food and dietary supplements. The Chinese health product sector has grown rapidly in recent years due to rising incomes and an increased health awareness following the outbreak of SARS in 2003, the paper said.