A signboard of Chinese car rental company ehi Car Service, also known as 1hai, is pictured in Shanghai, China, 13 October 2014. [Photo: Imagine China]
Chinese car rental company e-Hi's initial public offering on the New York Stock Exchange might go ahead as early as this Tuesday.
This came after a US-based auditor cleared the company of earlier accusations that the company had falsified its fleet size and wasn't forthcoming with its outdated car models.
e-Hi had planned to go public on Wall Street this past Friday, but the application was put on hold after two letters arrived accusing the company of fabricating key disclosure.
PricewaterhouseCoopers, the company hired by e-Hi for the listing, also confirmed in a revisit of the audit that the company's disclosed information is accurate.
e-Hi's main backers, Morgan Stanley and Goldman Sachs, have not commented on the IPO delay, but insisted their backing will stay.
