Warburg Pincus-backed Car Rental Company CAR Lists on the Hong Kong Stock Exchange (Asia)

Source: The Wall Street Journal | Author(s): Prudence Ho

China-based car rental company CAR, which is backed by global private equity firm Warburg Pincus, listed on the Hong Kong Stock Exchange on 19 September. CAR, which raised US$468 million after pricing its IPO at the top end of its price range, increased the retail portion from ten percent to 50 percent of the offering after it was more than 200 times oversubscribed. Warburg Pincus previously invested an aggregate of US$200 million in CAR in July and September 2012.