Hertz Sets Price of Shares in IPO

In an amended S-1 filing with the SEC, Hertz Global Holdings indicated it sees an IPO price of $16 to $18 per share on 88.2 million shares. The company plans to list their common stock on the New York Stock Exchange under the symbol "HTZ".

The offering is being made through an underwriting syndicate including Goldman Sachs, Lehman Brothers, Merrill Lynch, Deutsche Bank and JPMorgan, Morgan Stanley, Credit Suisse, UBS Investment Bank and Wachovia Securities.

The sole purpose of the Hertz IPO is to repay the $1 billion debt incurred when the company took out a loan to pay a special dividend of $999.2 million to its private equity shareholders, according to The Associated Press.

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