Emtek is set to sell up to $55m of its shares in online real estate platform PropertyGuru in an Australian initial public offering that could bring in up to $257m in proceeds.
PropertyGuru, a Singapore-based online real estate portal backed by media conglomerate Emtek, is set to raise up to $257m when it floats on the Australian Stock Exchange, having set its price range at A$3.70 to $A4.50 (approximately $2.50 to $3.00).
Reports last month suggested the company could be seeking as much as $274m in proceeds and would likely aim for a valuation of $920m. PropertyGuru plans to set a price for the offering on October 24 before listing the…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
