eHi Car Services (EHIC) IPO Closes Down 2.5% in Debut

Today's IPO for eHi Car Services (NYSE: EHIC) closed for trading at $11.70, down 2.5% after pricing 10,000,000 American depositary shares (ADSs) at $12.

J.P. Morgan Securities LLC and Goldman Sachs (Asia) L.L.C. acted as joint book runners for the offering.

eHi Car Services Limited (EHIC) is China's No. 1 car services provider and No. 2 car rentals provider in terms of market share by revenues in 2013, according to Frost & Sullivan. The Company's mission is to provide comprehensive mobility solutions as an alternative to car ownership by best utilizing existing resources and sharing economy to create optimal value. eHi distinguishes itself in China's fast-growing car rental and car services market through its complementary business model, customer-centric corporate culture, broad geographic coverage, efficient fleet management, leading brand name, and commitment to technological innovation. eHi is the exclusive strategic partner in China of Enterprise, the largest car rental company in the world, and is the designated and preferred business partner of Ctrip, a leader in the online travel agency industry in China

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