Singapore startup Qxpress mulls US IPO

Bloomberg9/22/2021 7:41 PM GMT+08  • 2 min read
Singapore startup Qxpress mulls US IPO
A listing in New York could value Qxpress from US$500 million ($675.8 million) to US$1 billion.
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Qxpress Pte, a pan-Asia cross-border logistics company whose investors include a firm backed by Peter Thiel, is weighing an initial public offering in the U.S. as soon as next year, according to people with knowledge of the matter.

The Singapore-based company, which offers delivery, warehousing and cargo shipping services, is working with Deutsche Bank AG and Goldman Sachs Group Inc. on the potential first-time share sale, said the people, who asked not to be identified as the process is private. A listing in New York could value Qxpress from US$500 million ($675.8 million) to US$1 billion, said the people.

Deliberations are ongoing and details of the IPO’s size, valuation and timing could change, said the people. Representatives for Deutsche Bank, Goldman Sachs and Qxpress declined to comment.

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