China’s Chery Automobile is preparing to price its shares at HK$30.75 ($3.96) each in its Hong Kong initial public offering (IPO), aiming to raise $1.2 billion, according to two sources familiar with the deal.
Regulatory filings show that Chery sold 297.4 million shares last week within a range of HK$27.75 to HK$30.75 per share, with the final price set at the top of that range.
