EHi Car sputters across the finish line

Chinese car rental and services provider finally prices its IPO at the bottom end of its indicative range.

EHi Car sputters across the finish line

Shanghai-based EHi Car Service finally priced its initial public offering at Asia's close on Tuesday at the bottom end of its indicative range. The group raised $170 million pre-shoe via a Goldman Sachs- and JP Morgan-led offering.

This comprised a combined institutional and retail tranche, plus a concurrent private placement to three Chinese investors, which raised $50 million. The three numbered Dongfeng Asset Management, China Universal Asset Management and Ctrip.

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