China Auto Scraps IPO After Struggling to Lure Investors

25/04/2012 13:56 AST  Bloomberg

China Auto Rental Holdings Inc. (CARH) postponed what would have been the second U.S. initial public offering by a Chinese company this year after struggling to attract investors.

The IPO was delayed because of “the current capital market conditions” according to an e-mailed statement from Christensen Investor Relations Inc., China Auto’s public relations firm. China Auto had considered reducing the offering price after only about half the order book for the IPO was covered by early this week, according to people with knowledge of the matter.

China Auto, which calls itself the country’s biggest car- rental provider, pulled the offering as U.S. investors’ appetite for mainland Chinese companies evaporated since 2010 amid accounting scandals and share declines. Guangzhou, China-based online retailer Vipshop Holdings Ltd. (VIPS) slashed its IPO by 39 percent last month and slid by as much as a third once it started trading.

For more on this Click Here

Global News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

Most Viewed Companies
Ticker Price Volume
EMAAR 10.9 15,645,811
EEC 56.2 4,606,133
EXTRA 107.98 37,553
TAWUNIYA 65.41 1,431,714
RIBL 18.72 284,383
SABIC 101.31 4,012,254
SPIMACO 41.08 87,156
Recent News

King Abdullah Port to become one of major ports in the world
Ports Development Company, owner and developer of King Abdullah Port, announced the handing over of the third berth at King Abdullah Port to National Container Company after fulfilling all Saudi Arab

Egypt investment prospects valued at $173 billion in 2015
Investors both foreign and regional, have recently amped up their interest in investing in Egypt despite the current political situation, with several encouraging indicators of growth pointing toward

Saudi quarry output to increase 327m tons as construction soars
Countries of the Gulf Cooperation Council (GCC), global leaders in hydrocarbon production, have worked diligently over the past two decades in their efforts to diversify and develop a prosperous econ

Much at stake for OPEC envoys as oil prices dip
A new era could be on the horizon! The energy world is entering into a momentous week.

While it eagerly awaits the outcome of the ongoing deliberations between the P5+1 and Iran on Tehr

DEC, ESCWA to promote intra-Arab trade
Communication and Information Unit - in partnership with the Dubai Economic Council (DEC), the Economic and Social Commission for Western Asia (ESCWA) is organising an expert group meeting on “Macro

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend


Which of the following do you think is the best long-term investment?