{"id":67144,"date":"2017-09-22T11:23:40","date_gmt":"2017-09-22T04:23:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/era-realty-to-relist-in-singapore\/"},"modified":"2017-09-22T12:03:29","modified_gmt":"2017-09-22T05:03:29","slug":"era-realty-to-relist-in-singapore","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/era-realty-to-relist-in-singapore\/","title":{"rendered":"ERA Realty to relist in Singapore"},"content":{"rendered":"


\nERA Realty\u2019s CEO Jack Chua.
\nERA Realty Network, the second biggest property agency here by agent numbers, plans to relist on the Singapore Exchange (SGX) to take advantage of the anticipated recovery in the housing market, reported the Business Times.
\nThe firm and other related businesses will be floated under APAC Realty, with each share to be sold at 66 cents, according to the registered prospectus for the initial public offering (IPO).
\nSEE ALSO: Property agents to benefit from technology\u00a0
\n\u201cWe are now at the initial stage of a market run. For the next one year, everyone knows the market will be good, so it\u2019s only logical to list now,\u201d said ERA Realty\u2019s chief executive Jack Chua, who is also the CEO of APAC Realty.
\nThe listing\u2019s goal is to provide more funding to fuel ERA\u2019s expansion in the Asia Pacific region. Of the IPO\u2019s estimated net proceeds of $55 million, $27.1 million will go to APAC Realty, whose business is the fully-owned ERA Realty.
\nIn turn, a larger network will help drive the brokerage business in Singapore via cross-selling as Chua expects a return of foreign buyers in the city-state, particularly the Chinese who are attracted by the lower prices of luxury real estate, while other markets have raised property taxes.
\n\u201cMany Singaporeans are also buying foreign properties, so establishing our foreign presence will allow us to advise Singaporeans better,\u201d he noted.
\nThis move is also expected to improve its competitive edge. ERA Realty presently has 6,272 property agents in Singapore. It had the most number of agents here for six straight years until PropNex Realty and Dennis Wee Group merged, forming a group with a total of 6,858 agents.
\nUnder the IPO, APAC Realty will offer 4.4 million shares and 44.5 million shares to retail investors and institutional investors respectively. At the same time, another 39.3 million shares will be sold to cornerstone investors Fidelity Investment, Soilbuild Group executive chairman Lim Chap Huat, Singapore-based Azure Capital and serial investor Wang Yu Huei.
\nThe transaction will close by Tuesday (26 September) and the shares will start trading by next Thursday.
\nPreviously, ERA Realty was listed under Hersing Corporation. But the latter\u2019s founder sold it to Northstar Group in August 2013 one year after delisting.
\nCurrently, Northstar Group owns 80 percent of APAC Realty, while the remaining 20 percent is held by APAC Realty\u2019s management. After the IPO, their stakes will be proportionately diluted, but if the greenshoe option for 9.75 million shares is exercised in full, both firms will retain a combined stake of 72 percent.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…ERA Realty to relist in Singapore<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ERA Realty\u2019s CEO Jack Chua. ERA Realty Network, the second biggest property agency here by...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-67144","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-hsY","jetpack-related-posts":[{"id":120590,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/era-singapore-promotes-marcus-chu-to-ceo\/","url_meta":{"origin":67144,"position":0},"title":"ERA Singapore promotes Marcus Chu to CEO","date":"June 29, 2021","format":false,"excerpt":"\r Current ERA Singapore COO, Marcus Chu, will take on the CEO role with effect from 1 July. Source: ERA Singapore ERA Realty Network (ERA Singapore), APAC Realty\u2019s wholly-owned subsidiary, will promote its current Chief Operating Officer (COO) Marcus Chu to Chief Executive Officer (CEO) with effect from 1 July.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/06\/Jack-Chua-ERA-CEO-and-Marcus-Chu-ERA-COO.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":82671,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/apac-realty-mln-join-forces-to-target-wealthy-chinese-property-buyers\/","url_meta":{"origin":67144,"position":1},"title":"APAC Realty, MLN join forces to target wealthy Chinese property buyers","date":"March 14, 2018","format":false,"excerpt":"\r Jack Chua, executive director and CEO of APAC Realty. Singapore-listed real estate brokerage APAC Realty, which operates under the ERA brand, on Wednesday (14 Mar) inked a partnership agreement with MLN Overseas (Singapore), a leading real estate company in China, to bring more wealthy Chinese buyers into Singapore, Bangkok\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96954,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/apac-realty-expands-into-china-with-hainan-jv\/","url_meta":{"origin":67144,"position":2},"title":"APAC Realty expands into China with Hainan JV","date":"August 30, 2018","format":false,"excerpt":"\r In a bid to penetrate the China market, APAC Realty Limited entered into a joint venture (JV) agreement with two Chinese companies \u2013 Zhong Zhi Sheng He Real Estate Investment Consulting Co and Bei Guo Tou (Shanghai) Equity Investment and Fund Management Co. \u00a0Dubbed ERA Hainan Real Estate Marketing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/apac-realty-receives-strong-investor-interest-at-ipo\/","url_meta":{"origin":67144,"position":3},"title":"APAC Realty receives strong investor interest at IPO","date":"September 28, 2017","format":false,"excerpt":"\r APAC Realty Limited, which operates under the ERA brand, received robust investor interest for its shares during its initial public offering (IPO), with the public offering and international placement being 26.0 times and 13.4 times subscribed, respectively. The company offered an international placement of 44.5 million shares and a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90386,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-realty-aims-to-raise-40m-in-ipo\/","url_meta":{"origin":67144,"position":4},"title":"PropNex Realty aims to raise $40m in IPO","date":"June 4, 2018","format":false,"excerpt":"\r PropNex Realty\u2019s CEO, Ismail Gafoor. In a bid to replicate the success of its rival APAC Realty, Singapore\u2019s largest property agency PropNex Realty plans to launch an initial public offering (IPO) that will raise about $40 million, reported Bloomberg recently citing anonymous sources. APAC Realty raised $58 million during\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107760,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/apac-realty-non-brokerage-income-stream-a-buffer-during-property-downcycle\/","url_meta":{"origin":67144,"position":5},"title":"APAC Realty non-brokerage income stream a buffer during property downcycle","date":"June 4, 2019","format":false,"excerpt":"\r Jack Chua, executive director and chief executive officer of APAC Realty. APAC Realty Limited is poised to have a stable future as non-brokerages income stream provide some buffer to its transaction-based business. The company\u2019s non-brokerage stream, which comprises its property valuation, training and management arms, accounted for 15.8 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/67144"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=67144"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/67144\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=67144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=67144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=67144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}