Jan. 10, 2007 (China Knowledge) – Giti Tire, the largest maker of tires in China, plans to raise US$200 million from its first bond sale for capital expenditure and possible acquisitions, reported South China Morning Post citing market sources.

According to the report, the company hired Lehman Brothers and Credit Suisse to arrange the sale of the five-year bonds. In addition, the company will have the right to buy the bonds back from investors after three years.

The Shanghai-listed tire maker would begin a road show in Hong Kong tomorrow to market the bonds before going to Singapore on Friday, the report said. The road show will end in London next Tuesday.

Giti's shares were up 4% this year after closing at RMB 3.94 yesterday.