SEA Proptech Firm PropertyGuru Eyes $245m in Australian IPO

PropertyGuru, one of the leading property technology companies in Southeast Asia, has filed to raise about A$363 million (US$245 million) in an initial public offering on the Australian Securities Exchange (ASX).

In a statement Monday, PropertyGuru said it has lodged a prospectus with the ASX to offer shares at an indicative price range of A$3.70 to A$4.50 apiece. The filing will be Australia’s largest offering this year, to overtake Irish insurance software firm Fineos, which listed in the country in August after a A$190-million IPO.

The filing comes at a time when PropertyGuru’s pro forma revenue has grown at a 26-percent compound annual growth rate over the last three years. The company, however, has not disclosed the number of shares that it intends to offer to the public.

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