GITI Tire IPO Reportedly Near

Reuters reports that GITI Tire intends to launch a US$400 – 500 million initial public share offer in Hong Kong in the near future. The news agency states that a ‘source’ indicated Giti Tire plans to seek Hong Kong listing committee approval in the coming two weeks, aiming to list shares in April. The deal is, adds Reuters, sponsored by BofA Merrill Lynch and Credit Suisse.

Giti Tire had originally planned its IPO for 2004, but postponed the issue due to restructuring. The company revived its listing plan in 2008, but again postponed it, this time because of market conditions.