China's GT Tyre to list in Hong Kong

Credit Suisse First Boston prepares to list China''s largest tyre manufacturer.

GT Tyre, otherwise known as Grandtour Tyres, is planning to join a growing list of Chinese companies still hoping to list in Hong Kong towards the end of the first half despite the onset of a weaker market tone. CSFB has the mandate for the IPO, which is likely to raise upwards of $400 million.

GT group's Chinese operations were founded in 1993, but the company has a long history in Singapore where it is headquartered. Since its foundation, the China business has expanded through a mixture of organic and non-organic growth.

The latter has been particularly prominent over the past two years through the purchase and attempted restructuring of...

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