Singapore's Trans-cab prices IPO at top of range

The taxi cab operator, the second-largest in the Lion City, has secured six cornerstone investors and is benefiting from better market conditions.

Taxi cab operator Trans-cab Holdings has launched its Singapore initial public offering at the top of its targeted price range and aims to raise up to S$114.2 million $91.3 million in the process.

The issuer, the second-largest taxi operator in the Lion City, is offering 168 million shares, representing a quarter of the company's enlarged share capital.

Trans-cab had sought to price the shares at between S$0.65 and S$0.68 per share and received strong anchor demand during the bookbuild process, allowing it to price shares at the top this range and putting its market capitalisation at about S$456 million.

Supporting the DBS-led...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222