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Juwai.com heading for an IPO in Australia

CEO Charles Pittar said he plans to list on the Australian stock exchange within 12 months
  • Juwai.com is heading for an IPO within the next 12 months.
  • It is also seeking to raise a rumored $15 million in the lead up to going public.
  • The Chinese-based property portal wants to use its increased funds to hire more talent from around the world.

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Executive hires can be a good indication that something is brewing at a company. When the international property portal for Chinese investors, juwai.com, hired Macquarie banker Charles Pittar as its CEO back in January, it was a sign that the company was considering some kind of fundraising exercise. The speculation recently solidified into reality when Pittar confirmed that he is planning to list the company on the Australian Stock Exchange within 12 months. He is said to be seeking to raise around $15 million in funds from institutional investors and strategic partners before selling shares in a public offering later in the year or early in 2017. Pittar told Bloomberg, “The listing is important for our growth." The company plans to use the funds raised to hire talent around the world to boost its presence, said the Australian CEO. Juwai co-founders Simon Henry and Andrew Taylor stepped down from their co-CEO roles in January, but continue to be engaged in the bu...