China's EHi car rental weighs stock sale
Ehi Car Rental, a Shanghai-based car-sharing network, is considering an initial public offering in New York, according to two people with knowledge of the situation.
EHi may issue stock as early as this year, the sources said.
EHi offers a car rental service similar to Zipcar, a Massachusetts-based company that allows members to use its cars by the hour or day.
Ehi, which launched service in Beijing and Shanghai in 2009, operates more than 120 self-drive locations in 34 cities with more than 500,000 customers, according to a company statement in August.
Goldman Sachs led an investment of $70 million in EHi, along with Qiming Venture Partners, CDH Ventures, Ignition Capital, JAFCO Asia and New Access Capital, according to EHi's August statement.
A spokeswoman for EHi in Shanghai declined to comment on the company's possible stock sale.
