With more than 7,000 sales agents under the company, PropNex is the largest real estate agency in Singapore after a merger with the Dennis Wee Group in 2017. It is also the second real estate brokerage to list on the Singapore Exchange after APAC Realty.
Here’s a quick glance into the details of PropNex’s IPO.
You can also find the prospectus here.
1. PropNex Profile
The company comprises 4 main business segments:
(i) Real Estate Brokerage
Under this segment, the company derives its revenue from commission earned from sales and rental of residential, commercial and industrial properties.
PropNex has a huge market share in the Singapore real estate market under this segment. According to Frost and Sullivan, a business consulting firm, PropNex has 42.7% market share in the residential primary private market and 45.3% leading market share in the residential HDB resale market.
This segment is also the single largest …