China's Giti Tire plans $500 mln HK IPO- sources

HONG KONG, May 14 (Reuters) - China's largest tyre maker Giti Tire plans to launch a $400 million-$500 million Hong Kong initial public offering this year, sources with knowledge of the deal said on Wednesday.

Separately, China ITS (Holdings) Co Ltd, a technology services provider for the transportation industry, plans to raise about $150 million from a Hong Kong IPO, sources with direct knowledge of the deal said.

Giti's deal is sponsored by Credit Suisse and UBS , while Merrill Lynch is sponsoring the China ITS offering.

(US$1=HK$7.8)

(Reporting by Kennix Chim, editing by Keiron Henderson)