China Auto Rental cancels US IPO

China's biggest auto rental company was seeking to raise up to $137.5 million from a listing on Nasdaq, but fails to attract sufficient demand from investors.

China Auto Rental cancels US IPO

China Auto Rental yesterday morning cancelled its initial public offering on Nasdaq after failing to attract sufficient demand from investors. The company was scheduled to price the deal yesterday following a two-week roadshow and was set to start trading last night, making it only the second Chinese company to list in the US this year.

The IPO was seeking to raise between $115.5 million and $137.5 million.

According to sources, investors were...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...