ChinaLogistics Property Holdings Co. is set to price its Hong Kong of 1.04 billion shares atHK$3.25 apiece, Bloomberg News reported, citing people familiar with the matter.

The priceis at the top end of an indicative range of between HK$2.55 and HK$3.25 apiece,as the Shanghai-based warehouse developer is seeking to raise up to US$433million in the float.

Itis backed by Carlyle Group LP and RRJ Capital, and counts heavyweightsSino-Ocean Group Holdings Ltd.and Anbang Life Insurance Co.Ltd. as cornerstone investors of its IPO.

CreditSuisse Group AG, Deutsche Bank AG, Bank of America Corp. and AMTD Group Co. arejoint global coordinators of the offering.