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eHi’s (NYSE:EHIC) Latest IPO Can Prove Beneficial For The Company

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Just-released report names Cannabis Stock of the Year for 2019! Their last pick has seen a +1,200% return since he released it!

This stock has all of the makings of the next great cannabis stock – early-mover advantage, international exposure and influential partnerships, plus it has a product that is unlike anything else on the market…

You will also receive a free, weekly newsletter to stay on top of the latest industry trends, read analysis on promising cannabis stocks, and more. Click here to receive your Free Report immediately!

China’s largest automobile rental services company, eHi (NYSE:EHIC) Car Services Ltd. recently announced that the company’s last IPO of some 10 million ADS i.e. American Depository Shares will be entering the market shortly. Moreover, each ADS is worth $12 and will be representing eHi’s (NYSE:EHIC) 2 common A – class shares. The underwriters of the IPO are given some flexible over allotment right for 30 days through which they can purchase additional 1.5 million AD shares from the company.

 

Moreover, the offering was made by The Deutsche Bank, JP Morgan and Goldman Sachs. During one the press releases the company (NYSE:EHIC) told that if the underwriters do not use their additional power to increase the ADS purchases, add more net proceeds worth about $50 million through the allotment of 5 million A class common shares to the Chinese Dongfeng Asset Management Co. Ltd., some 1.66 million A class common stocks to the China Universal Asset Manager Co. Ltd and 1.66 million common A class shares to Ctrip.

 

The company (NYSE:EHIC) has high hopes from this offering and they will be expecting figures around 20 million. Plus the shares will be priced a $6 per A class common share which will equal to an AD share worth $12. eHi (NYSE:EHIC) is a leading automobile rental service provider throughout China and hold excellent market position at present. The company (NYSE:EHIC) has about 760 branches spread out in more than 70 cities across China and holds a fleet of more than 15,000 vehicles for different purposes.

 

Besides corporate clients ranging from education to energy industries, the company also provides services for the Fortune 500 (Top 500 US companies according to Fortune Magazine). Moreover, the company (NYSE:EHIC) increased their fleet during the last 2 years from a 7,000 to 15,000 vehicles whereas, 70% of this fleet is used for the sole purpose of car rentals. In fact, June 2014 reports suggest that the company has more 500,000 registered members and more than 30,000 corporate clients.

 

The company (NYSE:EHIC) has been working with extra ordinary results and great reputation. This excellent performance is the key factor behind eHi’s superb market strength. Talking statistically, previous fiscal year (2013)’s revenues are standing at 91.3 million dollars and this portrays an annual growth rate of more than 25% but the company had to face some losses which totaled up to $24.5 million. Whereas, the track record for the last six months is not so bad after all. We can see a growth rate of almost 45.7% with revenues being generated up to $62 million and losses of only $3.3 million.

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