{"id":90386,"date":"2018-06-04T10:01:26","date_gmt":"2018-06-04T03:01:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-realty-aims-to-raise-40m-in-ipo\/"},"modified":"2018-06-04T11:02:59","modified_gmt":"2018-06-04T04:02:59","slug":"propnex-realty-aims-to-raise-40m-in-ipo","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-realty-aims-to-raise-40m-in-ipo\/","title":{"rendered":"PropNex Realty aims to raise $40m in IPO"},"content":{"rendered":"


\nPropNex Realty\u2019s CEO, Ismail Gafoor.
\nIn 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.
\nAPAC Realty raised $58 million during its IPO in Singapore last year.
\nMore: APAC Realty Receives Strong Investor Interest At IPO
\nTargeting a market capitalisation of as much as $250 million, PropNex is looking to launch the offering as soon as next week with the aim of listing as early as end-June, said one of the sources who declined to be identified as the deliberations are private.
\nWhile the details of the offering may still change, the company is seeking to market the IPO shares at 62 to 68 Singapore cents per piece, said the source.
\nPropNex became the largest property agency in Singapore by salesforce last year, with nearly 7,000 agents, following its merger with Dennis Wee Group.
\n\u201cAs a private company, PropNex will evaluate the company\u2019s capital needs whenever necessary and does not comment on these matters publicly,\u201d the company said in an email statement.
\nSingapore saw a growing number of real estate redevelopment deals, indicating that the local housing market is on the rebound after a four-year slump. Cushman & Wakefield Singapore expects en bloc sales to hit $12.8 billion this year, or its highest in over a decade.
\nPrices of private homes in Singapore rose 3.9 percent quarter-on-quarter in Q1 2018, the most in nearly eight years, revealed Urban Redevelopment Authority data.
\nFind property agents who can help you in your Singapore Property search.
\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…PropNex Realty aims to raise m in IPO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PropNex Realty\u2019s CEO, Ismail Gafoor. In a bid to replicate the success of its rival...<\/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-90386","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-nvQ","jetpack-related-posts":[{"id":67144,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/era-realty-to-relist-in-singapore\/","url_meta":{"origin":90386,"position":0},"title":"ERA Realty to relist in Singapore","date":"September 22, 2017","format":false,"excerpt":"\r ERA Realty\u2019s CEO Jack Chua. ERA 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. The firm and other related businesses will be floated\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-clears-air-on-discrepancies-over-dennis-wee-realty-transaction\/","url_meta":{"origin":90386,"position":1},"title":"PropNex clears air on discrepancies over Dennis Wee Realty transaction","date":"June 27, 2018","format":false,"excerpt":"\r PropNex Realty\u2019s CEO, Ismail Gafoor. Real estate agency PropNex Realty has clarified certain matters cited in recent media reports that its transaction involving Dennis Wee Realty (DWR) was without monetary terms and that there were discrepancies between its audited revenue and profit for FY2016 to the figures in its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92955,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-shares-2-2-times-oversubscribed\/","url_meta":{"origin":90386,"position":2},"title":"PropNex shares 2.2 times oversubscribed","date":"July 2, 2018","format":false,"excerpt":"\r PropNex Realty\u2019s CEO, Ismail Gafoor. PropNex Realty, Singapore\u2019s biggest homegrown property agency, held a successful initial public offering (IPO) that attracted strong investor interest, according to an SGX filing on Friday (29 July). Overall, its shares were 2.2 times oversubscribed. There were 1,796 valid applications for the 2.125 million\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":90386,"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":104229,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gap-to-transfer-its-property-agents-to-propnex-realty\/","url_meta":{"origin":90386,"position":4},"title":"GAP to transfer its property agents to PropNex Realty","date":"February 21, 2019","format":false,"excerpt":"\r PropNex further strengthens its position as Singapore\u2019s largest listed real estate agency with over 7,500 salespersons. Global Alliance Property (GAP), which operates under the Century 21 franchise, has signed a strategic collaboration with PropNex Realty, whereby GAP\u2019s property agents will be transferred to the latter. With the transfer of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-merges-with-dwg-to-form-largest-local-property-agency\/","url_meta":{"origin":90386,"position":5},"title":"PropNex merges with DWG to form largest local property agency","date":"June 12, 2017","format":false,"excerpt":"\r \u00a0 Homegrown real estate agency PropNex Realty announced this morning (12 June) a merger with Dennis Wee Group (DWG) following an MOU signing over the weekend. The addition of DWG\u2019s 1,071 property agents in a bulk transfer will grow PropNex\u2019s team to 6,926 agents from 5,855 previously. The transition\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\/90386"}],"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=90386"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/90386\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=90386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=90386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=90386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}