Hertz Global Holdings Inc., the world’s largest car rental company, is scheduled to float about 88 million shares on Thursday according to a prospectus filed with the Securities and Exchange Commission.
Hertz, bought less than a year ago by private equity funds, is part of an increasing industry trend of private investors shortening the time between leveraged buyouts and the initial public offering.
Forecast to sell for $16-$18 a share, the company is positioned to raise over $1.8 billion dollars. That would make it the number two IPO this year. The MasterCard IPO raised $2.6 billion in May.