Car Rental Firms on Slippery Financial Route

The nation's largest car leasing company China Auto Rental Ltd. recently rolled into New York with plans to raise US$ 300 million in a public listing.

Is this a springtime road trip that will end a bitter winter for Chinese concept stocks on U.S. capital markets?

The company submitted IPO documents with the U.S. Securities and Exchange Commission (SEC) on January 19, becoming the first applicant for an American market listing from China since August and the second Chinese car leasing company in a year to pursue U.S. stock investors.