Trans-cab pulls IPO as EHi Car refuses to change gear

Two companies make very different decisions regarding their IPOs after "unexpected" new information requires them to change their prospectus.

Singapore's Trans-cab Holdings pulled its S$114.2 million $93 million initial public offering on Monday after the company revealed an unexpected addition to its insurance premium.

Shanghai's EHi Car Service, on the other hand, is on the verge of pricing its New York Stock Exchange listing despite the lodging of a damaging FWP Free Writing Prospectus with the US Securities Exchange Commission.

Trans-Cab returns to the taxi rank

In a statement, Trans-cab said it was, Previously not aware there was an additional insurance premium of S$1.83 million inclusive of GST, which is to be invoiced by its insurer in the future, based on...

¬ 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 subscription (2-5 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 subscription (2-5 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