China’s eHi Car steers investors to $140m NYSE listing

Car Rental_230px
By Rashmi Kumar
06 Nov 2014

China’s eHi Car Services opened books for its $140m New York IPO on November 4, with plenty of anchor support.

The car rental and car services provider, which started pre-marketing the IPO in mid-October, is offering investors 10m American Depositary Shares at a price range of $12.00-$14.00. Each ADS is equivalent to two class A common shares.

Valuation works out to a 2015 EV/Ebitda of 5.9x-6.8x — a discount ...

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