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.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Hertz, Avis Autonomy Partnerships: Good First Steps on a Long Path

Two new autonomous vehicle project partnerships bring the importance of fleet management to the fore.

An Inside Look at Car Rental in China

A trip to a new car rental convention in Guangzhou reveals a booming market, yet one facing unique challenges.

Job Finder: Access Top Talent. Fill Key Positions.

>