China Auto Rental Withdraws Application for $138 Million IPO
The car rental company removed its application to sell stocks in the U.S. in fear of damaging its ability to raise funds.
According to Reuters, China Auto Rental lifted its application to hold an initial public offering in the U.S. The move would have been the first time a Chinese company would list in New York since U.S. regulators tightened rules for foreign applicants.
The company originally planned to raise $158.1 million to expand its fleet and pay off debt, but reduced the sum to $138 million before cancelling it altogether.
Yao Junhong, executive vice president of China Auto Rental, said the company feared a weak IPO would hinder its future ability to raise funds since the environment for stocks in the U.S. for China is not well at the moment. Over the past two years, dozens of Chinese companies listed in the U.S. have been accused of fraud.
The full article from Reuters.com can be found at this URL:
http://www.reuters.com/article/2012/05/24/chinaautorental-idUSL4E8GO7ZL20120524
More Rental Operations
What Does It Take to Succeed in B2B Rentals?
The fundamentals may be familiar to daily car rental operators, but project-based truck rentals put different demands on the fleet and the business.
Read More →
NPR Builds on International Partnerships to Grow Rental Bookings
With Ana Laborde supporting broker development, NPR Auto Group is tailoring distribution strategies, rate packages, and partnerships to grow international reservations across its three brands.
Read More →
Advantage, Sixt Place Among Top Five in Annual Satisfaction Study
While Enterprise and National retain the top spots in JD Power’s 2026 rankings, the latest customer satisfaction results suggest renters can find competitive service beyond the biggest car rental names.
Read More →
The $100,000 Insurance Trap in Exotic Car Rentals
Exotic rental agencies often rely on customers’ personal auto policies to protect six-figure vehicles. But policy language can dramatically change the coverage for vehicles over $100,000 MSRP.
Read More →
The Booking Is Confirmed, But Is Your Customer Ready to Drive?
For international renters, a confirmed reservation doesn’t always mean they’re eligible to drive. Earlier checks can help operators catch documentation and payment issues before the customer reaches the counter.
Read More →
ICRS 2027 Opens Call for Papers
The International Car Rental Show seeks session proposals on the business, operational, and technology issues facing car rental operators. Submissions are due Jan. 15.
Read More →
Turo to Launch Vehicle Delivery Service
Turo Delivered will let travelers search for vehicles that hosts can deliver directly to hotels, homes, airports, train stations, and other locations.
Read More →
Palm Beach Airport Code Change Creates Car Rental Distribution Gap
A test of rental searches under the old PBI and new DJT airport codes returned largely different sets of brands and vehicles, highlighting a potential distribution problem for rental operators.
Read More →
U-Save Continues Dominican Republic Expansion with Launch in Punta Cana
The new franchise location builds on U-Save’s existing Santo Domingo operation and will begin taking reservations for October 2026.
Read More →
When AI Books the Rental Car, Who Controls the Sale?
As AI moves from comparing rental rates to completing transactions, operators need to understand how travelers find, interpret, rank, and ultimately see their offers. (Part 2 of 2.)
Read More →