This article by OPP Connect editor Adrian Bishop was originally posted on OPP Connect.
Singapore’s online property website PropertyGuru is growing its property listings and visitor numbers and is aiming to launch on the stock market in the next 18 months.
The popular Asian property site, at www.propertyguru.com.sg, which features real estate in Singapore, Thailand, Indonesia and Malaysia, saw listings rise by 60 percent year over year to 805,060 at the end of 2013.
Traffic to the site also substantially increased, rising 19 percent to 125 million, with most visitors (57 percent) coming from Singapore, the latest data shows.
PropertyGuru plans to undertake an initial public offering (IPO) where shares are offered to the public, either on the Singapore or Australia stock market within the next 18 months. “An IPO remains in the pipeline,” says Steve Melhuish, PropertyGuru co-founder and chief executive officer, in a press release. No mention was made on the size of the offering.
The possibility of an IPO was first mooted around summer 2012, according to a report in the Wall Street Journal blog Deal Journal Australia.
PropertyGuru is a media partner of the OPPLive Asia overseas property trade show, which takes place April 23-24 at the Marina Bay Sands Hotel, Singapore.
For more details see: http://www.opp-connect.com/opplive-asia/.