HONG KONG, May 8 (Reuters) - Brilliance China Automotive Holdings Ltd. (1114.HK: Quote, Profile, Research) is selling $180 million in convertible bonds with a high premium to the mainland auto maker's current share price, a person familiar with the deal said on Monday.

Brilliance China, shares of which were suspended from trading in Hong Kong on Monday, is offering the 5-year zero-coupon convertibles to investors with a conversion price range of HK$1.93 to HK$2.06 per share and a 6.5 to 7 percent yield to maturity, the source said.

Brilliance's conversion price range is a premium of 36 to 45 percent to its closing price of HK$1.42 on Thursday and the books for the deal will close as soon as the possible, the source said.

Shares of Brilliance China, a minibus and car maker that formed a joint venture with Germany's BMW A.G. (BMWG.DE: Quote, Profile, Research) in 2003, have risen nearly 27 percent since falling to HK$1.12 on March 8, in line with a rally in Hong Kong stocks over the same period.

Several locally listed companies, including Aluminum Corp. of China Ltd. (2600.HK: Quote, Profile, Research) on Monday, are taking advantage of the higher prices to raise money through share offerings to fund their expansion plans.

Citigroup, which declined to comment, is the sole bookrunner for the deal.