PropNex Limited ("PropNex" or the "Group") is offering 42.5m shares of which, 40.375m will be for placement and 2.125m for the public. There will be 12.9m new shares and 29.6m vendor shares. The offer price is $0.65 per share. Based on the IPO price, the market cap will be S$240.5m. The offer will close on 28 June at 12pm.
According to the prospectus, PropNex is the largest real estate agency in Singapore with 7,248 sales person and has a market share of more than 42% in both private and HDB resale market.
Business
The core business segments include real estate brokerage, training, property management and real estate consultancy ...
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