PE-backed China Auto Rental to raise $467m in HK IPO
China Auto Rental, a car hire firm backed by Warburg Pincus, has set terms for a Hong Kong IPO that will raise up to HK$3.62 billion ($467 million).
According to a prospectus, the company is selling 426 million new shares at HK$7.50-8.50 apiece. Warburg Pincus invested $200 million in China Auto Rental in 2012 and has a 23.1% stake in the business....
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