(Adds details on IPO, background on property market)
June 14 (Reuters) - Australian online realty firm PEXA Group Ltd filed the prospectus on Monday for what would be the country's largest initial public offering this year, with plans to begin trading on July 1.
The fully underwritten IPO will raise A$1.18 billion ($909.19 million) at an offer price of A$17.13, as previously reported by Reuters.
The offering will give PEXA a market capitalization of about A$3 billion, Torrens Group, which will be renamed PEXA Group, said in a statement.
The hotly anticipated IPO comes as Australian house prices skyrocket thanks to record-low borrowing rates and government incentives that have pushed up demand for housing.
The listing will bring an end to months of interest by private equity giants and others for the firm that runs an online property exchange network, which had attracted bids for its largest shareholder, Link Administration Holdings (LNK)
Reuters reported last month that Commonwealth Bank of Australia (CBA) , a PEXA shareholder that has the largest share of mortgages in the country, will increase its stake in the company to 17% from 14%.
The IPO is led and underwritten by Barrenjoey, Macquarie Capital, Morgan Stanley and UBS, PEXA said. ($1 = 1.2979 Australian dollars)
(Adds details on IPO, background on property market) June 14...
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$170.78 |
Change
1.700(1.01%) |
Mkt cap ! $286.2B | |||
| Open | High | Low | Value | Volume |
| $170.24 | $171.49 | $170.12 | $63.18M | 369.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 106 | $170.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $170.78 | 46 | 3 |
View Market Depth
| Last trade - 12.22pm 27/08/2025 (20 minute delay) ? |
| CBA (ASX) Chart |