SINGAPORE: Trans-cab Services Pte, Singapores second biggest taxi operator, is preparing an initial public offering in the city that could raise at least S$100 million (RM256 million), people with knowledge of the matter said. The company plans to sell shares by the end of the year, they added. Proceeds from the offering, which will consist mostly of new shares, will be partly used to boost Trans-cabs fleet and construct a new head office, according to the people. Trans-cab had 4,650 taxis at the end of August, trailing only ComfortDelGro Corp 12,557 vehicles in Singapore, according to data from the Land Transport Authority. Bloomberg
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