Trans-Cab calls off IPO in surprise move, just days after its announcement

Trans-cabs taxis at Defu lane. Taxi operator Trans-Cab has called off its initial public offering, just days after it announced its float. -- PHOTO: ST FILE
Trans-cabs taxis at Defu lane. Taxi operator Trans-Cab has called off its initial public offering, just days after it announced its float. -- PHOTO: ST FILE

SINGAPORE - Taxi operator Trans-Cab has called off its initial public offering, just days after it announced its float.

The company withdrew its listing plans after information relating to its insurance premiums surfaced.

In view of the impending close of the public offer at noon on Tuesday, and taking into account the time needed to evaluate this new information holistically, the company decided not to proceed with the IPO at this point.

As the company's fiscal year end - at Dec 31 - is approaching, Trans-Cab intends to complete its full-year audit, and evaluate its options thereafter, it added.