China Literature Ltd., the online reading unit helping Tencent Holdings Ltd. build an entertainment empire, raised $1.1 billion alongside existing investors in its Hong Kong initial public offering, according to people with knowledge of the matter. The operator of the QQ Reading app and existing investors priced 151 million shares at HK$55 apiece, at the top end of a marketed range, the people said, asking not to be identified because the information is private. Shares were offered at HK$48 to HK$55 each, according to earlier terms obtained by Bloomberg.