Employees walk pass by a chain of Shenzhou Zuche, as Car Inc is known in mainland China. China's biggest car rental company's share price has tumbled by association with Luckin Coffee through their co-founder. Photo: EPA-EFE Employees walk pass by a chain of Shenzhou Zuche, as Car Inc is known in mainland China. China's biggest car rental company's share price has tumbled by association with Luckin Coffee through their co-founder. Photo: EPA-EFE
Employees walk pass by a chain of Shenzhou Zuche, as Car Inc is known in mainland China. China's biggest car rental company's share price has tumbled by association with Luckin Coffee through their co-founder. Photo: EPA-EFE

IPO

UCAR to exit from China’s biggest car rental group after Luckin Coffee scandal infects stock value

  • Lu’s UCAR agrees to sell its remaining shares in Car Inc to Beijing Automotive Group, following a stake sale in April
  • Block sales follow incident at Luckin Coffee that ensnares investors in companies associated with the former billionaire

Topic |   IPO
Employees walk pass by a chain of Shenzhou Zuche, as Car Inc is known in mainland China. China's biggest car rental company's share price has tumbled by association with Luckin Coffee through their co-founder. Photo: EPA-EFE Employees walk pass by a chain of Shenzhou Zuche, as Car Inc is known in mainland China. China's biggest car rental company's share price has tumbled by association with Luckin Coffee through their co-founder. Photo: EPA-EFE
Employees walk pass by a chain of Shenzhou Zuche, as Car Inc is known in mainland China. China's biggest car rental company's share price has tumbled by association with Luckin Coffee through their co-founder. Photo: EPA-EFE
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