Tracx Logis, a Singapore-based logistics provider focused on cross-border services, announced terms for its IPO on Thursday.
The company plans to raise $30 million by offering 1.5 million shares at a price range of $18 to $22. At the midpoint of the proposed range, Tracx Logis would command a market value of $344 million.
The company provides cross-border logistics services to e-commerce merchants, smaller manufacturers and individual shippers. Tracx Logis works with various vendors, including first mile, last mile, middle mile and warehouse and customs partners in Asia and throughout the world. The company states that it uses an asset-light business model to minimize ownership or long-term lease of physical facilities and equipment. In 2024, Tracx Logis, which was previously known as Qxpress, faced liquidity and going concern issues related to its then parent company, Qoo10, which later went into bankruptcy proceedings.
Tracx Logis was founded in 2011 and booked $131 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol TRCX. Revere Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
