Chery Auto Said Set to Price Hong Kong IPO at High End of Range

Chery Automobile Co. is set to price its Hong Kong initial public offering at the high end of a marketed range after strong demand for the stock, according to people familiar with the matter.

China’s biggest car exporter plans to price the stock at HK$30.75 each, the people said, asking not to be identified discussing a private matter. They were being offered at as low as HK$27.75 apiece.

A representative for Chery, which is planning its Hong Kong trading debut on Thursday, declined to comment.

The pricing would mean Chery is poised to raise HK$9.1 billion ($1.2 billion) in the ...