Zipcar Revs Up For Initial Public Offering
by Christina Rexrode
NEW YORK (AP) - Zipcar Inc., the car-sharing company that rents rides for as little as an hour, is expected to get a warm reception from Wall Street for its planned initial public offering this week.
Its supporters think skyrocketing gas prices will make car sharing more popular.
Still, Zipcar has never been profitable since it was founded in 2000 and it expects to lose money again in 2011.
The IPO's value would total about $125 million at the midpoint of its expected price range. Of that, the company expects proceeds of about $89 million, $46 million of which it will use to pay down debt.
The company is expected to start trading on the Nasdaq Stock Market under the ticker ZIP.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Latest Stories
- Missing Persons Identification Act Becomes Law
- Clerk Mariyana Spyropoulos Hosts Second Chance Summit to Make Justice Accessible
- South Suburban College and Superior Ambulance Announced Their Articulation Agreement Following The Groundbreaking Of The New Allied Health & Nursing Center
- EARLY WALKER AND VMS TO ANNOUNCE HUGE EXPANSION PROMOTING DIVERSITY IN CHICAGO TOWING CONTRACT
- ATTORNEY GENERAL RAOUL CALLS ON INSTAGRAM TO STRENGTHEN LOCATION PRIVACY
Latest Podcast
STARR Community Services International, Inc.
