SINGAPORE: Trans-cab, the second largest taxi operator in Singapore by fleet size on Tuesday (Nov 4) announced that it has lodged its preliminary prospectus with the Monetary Authority of Singapore and intends to list its shares on the Main Board of the Singapore Exchange Securities Trading Limited.
The Global Offering comprises 168 million shares. It has secured six cornerstone investors for 38.7 per cent of the Global Offering. They are Eastspring Investments (Singapore), FIL Investment Management (Hong Kong), Havenport Asset Management, JF Asset Management, Lion Global Investors and Maxi-Harvest Group.
DBS Bank has been appointed manager for the proposed listing.
Trans-cab, which started out a decade ago, has grown its fleet to 4,686 taxis with approximately 7,400 taxi drivers, including relief drivers, as of June. The company recorded a three-year compounded profit growth of approximately 22.2 per cent, from S$24.3 million for the financial year ended 31 December 2011 to S$36.3 million for the financial year ended 31 December 2013.
