Trax investors selling US$100m of shares in partial exit

Singapore

SOME US$100 million worth of secondary shares in GIC-backed unicorn Trax are up for grabs, as early investors seek to realise their returns from the computer vision tech and in-store analytics startup.

The Business Times understands that some shareholders are selling US$50 million worth of shares to both existing and new investors, while the other US$50 million of shares are being marketed by investment bank UBS to its clients - mostly family offices in the region - to provide liquidity to Trax's early shareholders. Strong investor interest has come from Singapore and Hong Kong.