Taxi operator Trans-Cab shares priced at 68 cents

Soon-to-be-listed taxi operator Trans-Cab has priced its initial public offering at 68 cents a share, with 8.8 million shares available to the general public. -- PHOTO: ST FILE
Soon-to-be-listed taxi operator Trans-Cab has priced its initial public offering at 68 cents a share, with 8.8 million shares available to the general public. -- PHOTO: ST FILE

SINGAPORE - Soon-to-be-listed taxi operator Trans-Cab has priced its initial public offering at 68 cents a share, with 8.8 million shares available to the general public.

The company expects to raise about $100 million, which will be used to fund its expansion and diversification programme.

It is the first taxi company here to go public since Comfort Group did so in 1994.

The public offer will open at 9am tomorrow, and will close at 12 noon on Nov 18. Listing and trading of Trans-Cab shares on the mainboard is expected to commence at 9am on Nov 20.

Its market capitalisation is expected to be around $456 million upon listing.