By Joanne Chiu

U.S.-listed ZTO Express (Cayman) Inc. is set to raise nearly $1.3 billion ahead of its market debut in Hong Kong on Sept. 29.

The Chinese courier, which is backed by Alibaba Group Holding Ltd., is guiding investors that it will price its stock sale at 218 Hong Kong dollars each, the equivalent of $28.12. That represents a nearly 2% discount to ZTO's closing price in New York on Monday.

The delivery company, which is selling 45 million new shares in a stock sale, joins a string of Chinese companies obtaining a secondary listing in the city amid U.S.-China tensions. 



  Write to Joanne Chiu at joanne.chiu@wsj.com