Trans-Cab offers 153m shares in IPO

Teo Kiang Ang, founder of Trans-Cab Services (TransCab). Trans-Cab, Singapore's second largest taxi operator, has lodged its preliminary prospectus for public listing. -- PHOTO: ST FILE
Teo Kiang Ang, founder of Trans-Cab Services (TransCab). Trans-Cab, Singapore's second largest taxi operator, has lodged its preliminary prospectus for public listing. -- PHOTO: ST FILE

SINGAPORE - Trans-Cab, Singapore's second largest taxi operator, has lodged its preliminary prospectus for public listing.

It has appointed DBS Bank as the principal banker and receiving bank for the exercise, which seeks subscribers for 153 million new shares in the company.

That excludes 65 million cornerstone shares which Eastspring Investments (Singapore), FIL Investment Management (Hong Kong), Havenport Asset Management, JF Asset Management, Lion Global Investors and Maxi-Harvest Group have agreed to take up.

Trans-Cab said it has received its eligibility-to-list from the Singapore Exchange. The public listing will open and close this month, and the initial public offering price will be made known soon.