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China Car Rental Firm eHi Weighs $1 Billion Hong Kong IPO

  • eHi targets $5 billion valuation in return to public market
  • Chairman, investors took U.S.-listed firm private in 2019

eHi Car Services Ltd., a Shanghai-based car rental company, is considering an initial public offering in Hong Kong that could raise about $1 billion, according to people familiar with the matter.

The formerly U.S.-listed firm is targeting a valuation of about $5 billion in the potential share sale, the people said, asking not to be identified as the matter is private. The company is working with advisers on the possible listing, which could take place as soon as next year, they said.