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China Auto Rental withdraws $127 million US IPO

By Renaissance Capital,  May 24, 2012, 01:33:02 PM EDT

China Auto Rental, which operates the largest car rental service in China, withdrew its plans for an initial public offering on Thursday. The Beijing-based company had postponed its $127 million IPO on April 24. China Auto Rental has 26,000 cars in its fleet and saw revenue surge 443% to $123 million in 2011. Morgan Stanley, J.P. Morgan and BofA Merrill Lynch were set to be the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: News Headlines, IPOs

Referenced Stocks: CARH



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