Trans-Cab to list on mainboard

TRANS-Cab Holdings, Singapore's second-largest taxi operator by fleet size, on Tuesday lodged the prospectus of its initial public offering (IPO) with the Monetary Authority of Singapore.

A Bloomberg report in October said the cab company expected to raise about S$100 million from its mainboard listing.

Eastspring Investments (Singapore) Limited, FIL Investment Management (Hong Kong) Limited, Havenport Asset Management Pte Ltd, JF Asset Management Limited, Lion Global Investors Limited and Maxi-Harvest Group Pte Ltd have each entered into a cornerstone subscription agreement with Trans-cab to subscribe for a total of 65 million cornerstone shares at the yet-disclosed offering price. This represents 38.7 per cent of the offer.