US SEC Has Problems With Car Rental Firm Hertz Selling New Shares: CNBC

The logo of the American car rental company Hertz is seen at the Nantes-Atlantique airport in Bouguenais near Nantes, western France, on April 7, 2016. (Stephane Mahe/Reuters)

The U.S. Securities and Exchange Commission (SEC) has told bankrupt Hertz Global Holdings it has issues with the car rental firms plan to sell new shares, the agencys Chairman Jay Clayton told CNBC television on June 17.

Last week, Hertz won bankruptcy court approval to sell up to $1 billion in stock. It announced on Monday plans to sell up to $500 million in new shares, as it takes advantage of a strong rally in its stock since filing for bankruptcy last month.

Clayton did not elaborate on what the issues were with Hertzs plan, but indicated that the company was unlikely to goRead More – Source