CAR hits brakes on IPO, citing market turbulence
By He Wei in Shanghai | China Daily | Updated: 2012-04-26 08:09
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A China Auto Rental Holdings Inc branch in Shanghai. The company lost 43.3 million yuan ($6.87 million) in 2010 and 151.4 million yuan in 2011. Wu Jun / for China Daily |
China Auto Rental Holdings Inc, which had aimed to become the second Chinese company to list in the United States this year, suddenly suspended its initial public offering on Wednesday, citing concerns it might have to slash its price amid market turbulence.
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