CHINA: China car rental company eHi to list on NYSE

By Staff reporter | 7 October 2014

Chinese car rental company eHi Car Services plans to raise US$200m in an initial public offering (IPO) and list its shares on the New York Stock Exchange (NYSE).

The announcement comes just weeks after China Auto Rental (CAR) successfully listed its shares on the Hong Kong stock exchange. 

eHi has a fleet of 15,000 vehicles and outlets in 90 cities in mainland China. It generated net revenues of CNY385m ($62m) in the first half of this year, up 50% on the same period of last year. 

A number of large investors participated in previous rounds of private funding, including Goldman Sachs, CDH Fund, Qiming Ventures and international car rental company Enterprise Holdings.