China tyre firm Grandtour in $400 mln IPO -sources

Newswire

HONG KONG, March 30 (Reuters) - China-based Grandtour Tires plans to raise roughly US$400 million from an initial public offering (IPO) in Hong Kong by the end of June, market sources said on Tuesday. Grandtour is planning a listing amid a recent cooling of market demand for new offerings from China. Mainland firms hope to raise more than US$22 billion in overseas initial public offerings in 2004. The fast-growing tyre manufacturer was founded by its Singapore-based parent company GT ...

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