US listing by Chinese company

China Auto Rental gears up for US listing

The industry leader starts pre-marketing for an IPO that could raise up to $300 million -- if it can convince US investors to look at a Chinese company again.
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Millions of people in China have a driver’s license but no car, creating a big opportunity for companies like China Auto Rental (Imaginechina)</div>
<div style="text-align: left;"> Millions of people in China have a driver’s license but no car, creating a big opportunity for companies like China Auto Rental (Imaginechina)</div>

China’s largest car rental company, China Auto Rental, has decided to brave the soggy appetite among US investors for Chinese companies and move forward with its plan to list on Nasdaq. Bankers working with the company started pre-marketing for a US initial public offering on Tuesday this week with the aim of kicking off a management roadshow after Easter, although the exact timetable has yet to be set.

According to company filings with the US Securities and Exchange Commission SEC, the company may seek to raise up to $300 million, but the final deal size will obviously depend on the valuation. Also, the management hasn’t yet decided how big...

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