Trans-Cab pulls brakes on IPO on eve of offer closing
$1.8m insurance premium issue surfaces after IPO launch
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Mindy Tan
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Singapore
TRANS-CAB Holdings' initial public offering (IPO) plans have skidded to a halt, with the company having received new information pertaining to its insurance premium.
In a statement on Monday night, the company said it was previously unaware of an additional insurance premium of S$1.83 million (inclusive of GST) it had to pay, but which had not yet been invoiced by the insurer.
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