Singapore logistics firm plans IPO

Logistics group Cogent Holdings, plans to raise net proceeds of US$6.4 million in an initial public offering in Singapore, Today Singapore reported.

Cogent is a full-service logistics management service provider in Singapore, which provides trucking services between ports and warehouses as well as transportation for oil and gas equipment.

It manages and leases approximately four million square feet of warehousing space and premises as part of its warehousing and container depot management services business.

In 2008, Cogent expanded into the automotive logistics business, offering a comprehensive spectrum of services for processing, transporting and storing motor vehicles.

Cogent plans to use about $4.3 million for the expansion of the Group’s container depot operations and warehousing space.

Another $1.4 million is for the expansion of its vehicle logistics operations.
 
(source: Cargo News Asia)