Lightelligence Is Said Set to Price HK IPO at Top of Range

Chinese optical-computing company Lightelligence is poised to price its oversubscribed Hong Kong initial public offering at the top of the marketed range, according to people familiar with the matter, signaling hot demand for components used in the artificial-intelligence buildout.

The company formally known as Shanghai Xizhi Technology Co. is set to raise HK$2.5 billion ($323 million), at a planned price of HK$183.20 each for the 13.8 million shares on offer, the people said, asking not to be named to discuss a private matter. The Shanghai-based company had marketed the shares at a floor price of HK$166.60.