Tag Archives: China Auto Rental

Alibaba, CAR Soar In NY, HK Trading Debuts

China Auto IPO draws on Alibaba fever with strong debut

I’m a bit reluctant to write more today about the historic New York IPO for e-commerce giant Alibaba (NYSE: BABA), whose extremely strong trading debut surprised even me. But I would be somewhat remiss if I didn’t at least mention the final phase of this massive offering, which has made Alibaba the world’s second largest Internet company behind only Google (Nasdaq: GOOG). At the same time, another far more low profile trading debut in Hong Kong for auto rental specialist CAR Inc (HKEx: 699) has also done quite well, extending a nearly yearlong window for overseas listings by Chinese firms. Read Full Post…

News Digest: September 20-22, 2014

The following press releases and media reports about Chinese companies were carried on September 20-22. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════

  • Alibaba (NYSE: BABA) Jumps 38 Pct In Debut, Becomes 2nd Largest Internet Firm (Chinese article)
  • China Fines Drugmaker GSK (London: GSK) Record $489 Mln For Bribery (English article)
  • Car Makers Ordered To Openly Disclose Maintenance Fees Starting Next Year (Chinese article)
  • Chinese Auto Rental Company CAR Inc (HKEx: 699) Soars 28 Pct In HK Debut (English article)
  • Microsoft (Nasdaq: MSFT) Delays Xbox One China Launch To Before Year-End (Chinese article)

Xunlei, China Auto File For IPOs in US, HK

China Auto files for HK listing

New York is firmly establishing a reputation as the preferred listing venue for China Internet IPOs, while Hong Kong is developing a taste for auto-related listings. That’s my quick assessment following reports that online video sharing site Xunlei has just joined a long queue of Chinese Internet firms filing to list in New York. At nearly the same time, car rental company China Auto Rental has filed to list in Hong Kong, reversing course from a previous plan to offer shares in New York. Read Full Post…

China Auto Rental Looks To HK For IPO

China Auto leans toward HK listing

Three years. That figure has suddenly become the magic number for a growing number of private Chinese firms that are increasingly looking to make IPOs in Hong Kong, which requires that all companies show at least 3 consecutive years of profit before they can list there. That magic number appears to be the key element behind new remarks by leading car rental firm China Auto Rental, which says it favors a Hong Kong listing within the next 3 years over New York. Not surprisingly, the company’s chief executive Charles Lu said he expects China Auto to turn profitable this year, meaning 2016 is the earliest his company could qualify for a listing on Hong Kong’s main stock exchange. Read Full Post…

News Digest: August 30, 2013

The following press releases and media reports about Chinese companies were carried on August 30. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════

  • Carlyle, Shanghai Yupei To Invest $200 Mln On China Logistics Warehouses (Businesswire)
  • Sina (Nasdaq: SINA) Acquires Online Literature Site Xuan Guoke – Source (English article)
  • ICBC (HKEx: 1398) Announces Interim Financial Results (HKEx announcement)
  • China Auto Rental Leaning Toward Hong Kong IPO, Chairman Says (English article)
  • Citic Securities (HKEx: 6030) Proposes Entry To Metals Trading (HKEx announcement)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

News Digest: April 18, 2013

The following press releases and media reports about Chinese companies were carried on April 18. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════

  • LightInTheBox Applies For NYSE IPO To Raise Up To $86 Mln (Chinese article)
  • PBoC May Issue Payment License to Tencent (HKEx: 700) WeChat (English article)
  •  China CITIC Bank (HKEx: 998), MasterCard Sign Strategic Cooperation MOU (Businesswire)
  • Glencore (London: GLEN) Clinches Chinese Approval With Copper Deal (English article)
  • China Auto Rental Receives Hertz (NYSE: HTZ) Investment, May Restart IPO (Chinese article)