China Auto Rental has kicked off the roadshow for an initial public offering on Nasdaq that will be crucial for establishing whether US investors are interested in buying Chinese newcomers. Recent experiences suggest they may be cautious, especially after a near 30% drop in the share price of Vipshop Holdings which debuted on March 23.
Partly in response to that, China Auto Rental has decided to sell only 14.9% of its share capital through the IPO, as opposed to 20% to 25% that was considered when the original filing was made. The roadshow also comes after two days of sharp falls in US markets on the back of a...
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