Giti Tire May List on Hong Kong Stock Exchange

Giti Tire reportedly is planning to launch a US$400 million to $500 million Initial Public Offering (IPO) on the Hong Stock Exchange during 2008. The Reuters news service has published an article, saying that ‘sources with knowledge of the deal’ indicate such an offering may take place sooner rather that later. “We hope that the deal can be launched as soon as June,” one of the sources said, while another source did not report a fixed timeframe.

Giti Tire is said to have originally planned to launch a Hong Kong IPO in 2004, but later postponed the deal.