China Auto Rental, a company boasting of a fleet of more than 10,000 in China’s fast-growing car rental market, has postponed plans for a U.S. IPO, citing “capital market conditions,” without elaborating further yesterday. The company, backed by Beijing-based Legend Holdings (parent of Hony Capital), had hoped to raise $137.5 million. REUTERS NEWS: China Auto [...]
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The market for venture-backed IPOs has been pretty dead so far this year. But based on new filing activity, it looks like there’s some optimism things will improve. At least six venture-backed companies have filed to go public since the start of the year, in sectors ranging from enterprise software to semiconductors to car rentals. [...]