Tracx Logis Ltd.

F-1/A amended

Price $20.00 · Range $18.00 to $22.00 · 1,500,000 shares · Gross proceeds $30,000,000

F-1/A amended

Tracx Logis Ltd. filed an amended F-1/A registration statement for its upcoming IPO, focusing on updating exhibits and redefining the exhibit index. The filing highlights recent unregistered securities sales, indemnification policies for directors/officers, and corporate governance details. The company, based in Singapore, is seeking to raise capital through the offering, with specific emphasis on compliance with U.S. securities regulations and disclosures related to its international operations and financial structure.

F-1/A amended

Price $20.00 · Range $18.00 to $22.00 · 1,500,000 shares

Tracx Logis Ltd. has filed an updated F-1/A registration statement ahead of its IPO, disclosing its conversion from a Singapore private limited company to a public limited company. The filing outlines an offering of 1.5 million ordinary shares (with a 225,000 share over-allotment option) and details use of proceeds for platform expansion, capital expenditures, and general corporate purposes. Key updates include intercompany loan activities between 2024-2025, a dormant VIE in Indonesia expected to be dissolved by 2026, and risks related to foreign exchange controls and PRC currency regulations affecting dividend distributions and cross-border transactions.

F-1 filed

Tracx Logis Ltd. is preparing for its IPO, transitioning from a Singapore private limited company to a public limited company. The filing details intercompany financial activities in 2024 and 2025, including loans and repayments between subsidiaries. The company plans to dissolve a VIE by 2026 and intends to list its shares on a stock exchange. Use of proceeds will focus on platform expansion, maintenance, and potential acquisitions. The filing also outlines risks related to PRC and foreign exchange regulations, as well as dependencies on subsidiary dividend distributions.

DRS/A amended

Tracx Logis Ltd. reported a significant decline in total revenue for 2025, driven by reduced service revenue across both e-Commerce and Enterprise Logistics segments, alongside a near-complete exit from product sales. The company attributed the downturn to the Qoo10 Liquidity Issue Related Events, macroeconomic challenges, and global trade barriers. Operational metrics showed reduced parcel volumes, customer base contraction, and lower shipment volumes, with gross margins slightly improving due to cost-cutting measures. The company highlighted ongoing challenges from its association with Qoo10 and broader geopolitical tensions affecting trade.

DRS/A amended

Tracx Logis Ltd. reported a significant decline in revenue for 2025, driven by reduced e-Commerce and Enterprise Logistics services due to the Qoo10 Liquidity Issue Related Events and macroeconomic challenges. Service revenue fell 30.9% to S$164.5M, with e-Commerce Logistics down 52.8% to S$42.0M and Enterprise Logistics down 17.9% to S$122.5M. Product revenue collapsed 95.4% to S$2.6M as the company exited its inventory trading business. Operating losses widened, but cost-cutting measures improved gross margins slightly. The filing highlights ongoing challenges from geopolitical tensions, trade barriers, and reputational damage from Qoo10-related issues.

DRS filed

Tracx Logis Ltd. operates in e-commerce and enterprise logistics across 16 countries in Asia and Europe, with significant revenue from Singapore, PRC, Korea, and others. The company reported a net loss of S$52.3 million for 2025, down from S$52.3 million in 2024, despite a 16% increase in e-commerce parcel volume. Key segments include e-commerce logistics (30.3% of revenue) and enterprise logistics (50.7% of revenue). Product sales were discontinued in 2025, and the company faces risks from integration of acquisitions, foreign currency fluctuations, and reliance on key customers.