The company, whose shareholders include private equity firm Warburg Pincus, is offering 426 million shares, a source with direct knowledge of the plans told Reuters.
China Auto Rental will price the shares at between HK$7.50 and HK&8.50 each, valuing the deal at HK$3.62bn.
The IPO will be priced on September 11 with shares set to start trading on Hong Kong’s stock exchange on September 19.
The company will use the IPO proceeds to expand its fleet by acquiring up to 60,000 vehicles to add to the 55,000 cars it had in March, said the report.
Back in 2012 Warburg invested $200m in China Auto Rental after the company was forced to scrap its planned IPO amid market instability.
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