Trans-cab Services (IPO)

Upcoming IPO: Newswires say Trans-cab Services, Singapore’s second-biggest taxi operator, is preparing an IPO that could raise at least $100m. The company plans to sell shares by the end of the year. Proceeds from the offering, which will consist mostly of new shares, will be partly used to boost Trans-cab’s fleet and construct a new head office. Trans-cab had 4,650 taxis at the end of August, trailing only ComfortDelGro’s 12,557 vehicles in Singapore. Shares of ComfortDelGro have risen 23% in Singapore trading this year, trailing the 31% jump in the STI. SMRT., which operates taxis in addition to the city’s subway system, has risen 31%. Separately, in Indonesia, the biggest taxi operator PT Blue Bird is seeking to raise ~US$307m in the country’s largest IPO this year.