China Auto Rental Postpones U.S. Initial Public Offering
Last week, the Chinese car rental company announced that it has postponed plans to offer public shares after being the first China-based company to file for a U.S. listing since regulators changed rules on foreign registration.
Last week, China Auto Rental announced that it has postponed plans to offer public shares citing that after filing in January, the car rental company failed to attract enough investors for its $137.5 million deal, which it hoped would help to pay off debts and buy new vehicles, according to Reuters.
China Auto Rental was the first China-based company to file for a U.S. listing since regulators changed rules on foreign registration.
For the full article from Reuters, click on the URL: http://www.reuters.com/article/2012/04/25/chinaautorental-idUSL3E8FP50M20120425
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