China AInnovation Said to Price Hong Kong IPO at Bottom of Range

Qingdao AInnovation Technology Group Co., a Chinese startup backed by SoftBank Group Corp., has priced its Hong Kong initial public offering at the bottom of its marketed range, according to people familiar with the matter.

The artificial intelligence company offered 44.7 million new shares at HK$26.30 apiece, the people said, asking not to be identified as the information is private. At that price, it would raise about HK$1.18 billion ($151 million). The company had marketed the shares at HK$26.30 to HK$27.30 each. The stock is expected to start trading on Jan 27.

A representative for AInnovation didn’t immediately ...