The U.S. Securities and Exchange Commission (SEC) has told bankrupt Hertz Global Holdings it has issues with the car rental firm’s plan to sell new shares, the agency’s 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.
