China’s Chery Automobile to price shares at top of range in Hong Kong IPO, sources say

(Reuters) -China’s Chery Automobile is planning to price its shares at HK$30.75 ($3.96) each to raise $1.2 billion in a Hong Kong initial public offering, two sources with direct knowledge of the matter said on Monday.

The company last week sold 297.4 million shares in a price range of HK$27.75 to HK$30.75 each, according to its regulatory filings.

($1 = 7.7680 Hong Kong dollars)

(Reporting by Scott Murdoch and Kane Wu; Editing by Christian Schmollinger)