According to IIR Group Ltd., the issue is expected to raise between 3.1 and 3.9 billion Hong Kong dollars (US$400 million – US$500 million) and will be managed by Credit Suisse and UBS.
The announcement follows plans for an initial public offering on the Hong Stock Exchange during 2008, reported in May. Giti Tire reportedly originally planned to launch a Hong Kong IPO in 2004, but later postponed the deal. (Tyres & Accessories/Staffordshire, U.K.)