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
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
STC 64 490,732
SAGRINSURANCE 31.11 771,290
SAICO 49.68 799,123
SABIC 83.58 3,871,845
RIBL 17.09 1,801,948
ALMARAI 88.66 230,965
SPIMACO 41.41 381,656
Recent News

US index at peak, European stocks extend gains on Greece, Fed
European stocks extended gains for a sixth day to its highest level in seven years, and US indexes recovered to hit another record after Greece proposed a list of reforms to euro group and Federal Re

Afriland First Bank officially launches Islamic finance in Cameroon
At an event held at the Hilton Hotel in Yaounde, Cameroon, on 20 February, Afriland First Bank unveiled its suite of Islamic finance products.

For more than 10 years, First Bank has been a

Once-bullish fund managers start to capitulate on oil prices
Last fall, when the price of oil started dropping, fund manager Craig Hodges figured crude would rebound in 2015 and began buying shares of companies he thought would be unfairly hit, including const

Dollar still falls and euro to Azerbaijani manat rises
The Central Bank of Azerbaijan has allowed decreasing the exchange rate of the US dollar and increasing the rate of euro and other soft currencies.

The CBA informs that on 29 March 2015 th

DFM stocks lifted as Yemen fears subside
Stocks in Dubai rose on Sunday as investors’ concerns about an escalation of the conflict in Yemen diminished.

Arabtec, the UAE’s biggest publicly traded construction company, and Dubai Fi

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

Poll

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