Shares in debt-strapped Hertz Global Holdings (HTZ) dropped 7% in pre-market trading after the car rental company suspended a planned $500 million share offering.The stock sank to $1.86 in pre-market trading. Bankrupt Hertz said it withdrew the offering until further notice after the U.S. Securities and Exchange Commission (SEC) said that it has put its share prospectus under review.“After discussions with the [SEC] Staff, sales under the Program were promptly suspended pending further understanding of the nature and timing of the Staff’s review,” Hertz said in a SEC filing.The share offering was announced after a bankruptcy judge last Friday approved …read more
Source:: Yahoo Finance
