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Miguel Cordon · · 1 min readComfortDelGro to list Australian subsidiary on local exchange
“[Singapore] Mainboard-listed transport operator ComfortDelGro announced on Monday that it is looking to list its wholly owned subsidiary, ComfortDelGro Corporation Australia, on the Australian Securities Exchange (ASX),” The Business Times reported.
Details:
- ComfortDelGro said it aims to further unlock the potential of its land transport business assets in Australia, where it has plowed in over US$860 million to date – the firm’s largest investment overseas.
- The plan to list the unit is expected to be set in action during the last quarter of the year.
Dive deeper:
- ComfortDelGro first expanded into Australia 16 years ago after acquiring a bus operator New South Wales. More recently, it acquired assets from Young’s Bus Service, which is one of the largest bus operators in the city of Rockhampton, Central Queensland.
- The Singapore-listed firm also recently launched Zig, a super app-like platform that allows users to book taxis, place orders at restaurants, and find attractions and experiences on a single platform. (Read: ComfortDelGro’s super-app gambit: Can it succeed?)
Editing by Collin Furtado
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