Sinopec Engineering Said to Raise $1.8 Billion in IPO

Sinopec Engineering Group Co., a unit of China’s biggest refiner, raised $1.8 billion in Hong Kong’s largest initial public offering this year.

The Beijing-based unit of China Petrochemical Corp. sold 1.33 billion shares at HK$10.50 each, near the low end of a marketed range, said two people with knowledge of the matter. The final price values the company at about 9.6 times estimated 2013 earnings, one of the people said, asking not to be identified as the information is private.