The Chinese auto rental service, which is 19% owned by Hertz, will seek to float in Hong Kong after an aborted 2012 IPO in the US.
China-based car rental service China Auto Rental (CAR) will seek up to $400m in an initial public offering in Hong Kong, according to Netease Tech.
The IPO filing states that US-based automotive rental company Hertz owns a 19% share of CAR, down slightly from the 20% stake it bought in September 2013 for an undisclosed sum.
The largest shareholder in CAR is investment vehicle Grand Union Management, while private equity firm Warburg Pincus, which invested $200m in 2012, holds 23.1%…
