Fast Track Group, a Singapore-based provider of event management and marketing services, lowered the proposed deal size for its upcoming IPO on Friday.
The company now plans to raise $14 million by offering 3 million shares at a price range of $4 to $5. The company had previously filed to offer 3.8 million shares at the same range. At the midpoint, Fast Track Group will raise 20% less in proceeds than previously anticipated.
Fast Track Group offers a comprehensive range of services including the organization of concerts, movie premieres, and other large-scale events featuring popular Asian and international artists. It has successfully planned high-profile events across Singapore, Malaysia, Indonesia, and Australia, in addition to providing agency services for artist endorsements.
Fast Track Group was founded in 2012 and booked $1 million in revenue for the 12 months ended February 29, 2024. It plans to list on the Nasdaq under the symbol FTRK. Network 1 Financial Securities is the sole bookrunner on the deal.
