The internet advertising service provider E-Media headquartered in Shanghai submitted an IPO application to the U.S. Securities and Exchange Commission (SEC) on the 17th, planning to list on the NASDAQ and raise $100 million. Goldman Sachs (Asia) and Credit Suisse are the lead underwriters for this transaction. On the same day, the brand discount e-commerce company VIPshop also submitted its IPO application document to the SEC, planning to list on the NYSE and raise up to $125 million. Goldman Sachs, Deutsche Bank, and Oppenheimer Funds will serve as the underwriters for VIPshop's IPO. Prior to this, China's largest car rental company, CAR Inc., had already submitted a listing application to the SEC on January 18th. The company plans to list on the NYSE and raise approximately $300 million. CAR Inc. is also the first Chinese enterprise to submit a listing application to the SEC after the SEC revised the submission rules in December 2011.
Chen Renbin, manager of Hǎolèduō Car Rental, said that all 50+ cars from his company were rented out during the Spring Festival period. As of now, 80% of the vehicles have been returned, leaving over 20 idle vehicles. He expects the market to become quieter next month. Huang, head of Dǐngbāng Car Rental, also stated that the market has returned to normal.
On the 17th, E-Media, an internet advertising service provider based in Shanghai, submitted an IPO application to the U.S. Securities and Exchange Commission, planning to list on NASDAQ and raise $100 million, with Goldman Sachs Asia and Credit Suisse as the main underwriters for this transaction.
When researching online, some car rental companies offer very low rental fees; daily rentals for lower-end cars can be as low as 50 yuan, but insurance must be paid separately. Basic insurance costs 30 yuan, and no-deductible insurance costs 40 yuan, totaling 70 yuan, making the insurance cost higher than the rent. It was introduced that car rentals are considered operational vehicles, so their insurance costs are higher than private cars. Additionally, since leased vehicles have idle periods, the premium during these idle periods must also be averaged into the rental period.
Article reprinted from Wodingche.com: www.wodingche.com