Venture-Backed EHi To Proceed With US IPO Despite Fraud Allegations

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Shanghai-based Chinese rental car company eHi Car Services Limited is planning to proceed with its delayed U.S. IPO on the New York Stock Exchange despite fraud allegations, according to a company announcement.

The company’s shares were initially planned to start trading last Friday, but were postponed because of concerns that the company had potentially misrepresented its financial performance and key operating metrics in its IPO prospectus.

China Money Network

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