SINGAPORE: Southeast Asian online realtor PropertyGuru filed a prospectus in Australia seeking an initial public offering (IPO) that could raise as much as A$380.2 million (US$257 million).
PropertyGuru, whose backers include buyout firms TPG Capital and KKR, has set an indicative price range of A$3.70 to A$4.50 apiece, according to its prospectus filed with the Australian Securities and Investment Commission on Monday (Oct 7).
Last month, Reuters had reported the Singapore-based company's plans to list in Australia.
PropertyGuru operates in Singapore, Vietnam, Thailand, Malaysia and Indonesia.
"We intend to use part of the proceeds from the offering to pursue our growth strategy," PropertyGuru's CEO Hari Krishnan said in a statement, adding that the company was looking at providing property seekers in the company's core markets with access to mortgage financing through an online mortgage marketplace.
"PropertyGuru's proforma revenue has grown at a 26 per cent compound annual growth rate over the last three years. 2018 also marked the first year PropertyGuru became both EBITDA and free cash-flow positive," Krishnan said.
PropertyGuru is set to have an indicative market value of up to A$1.36 billion. The retail offer will open on Oct 16 and close on Oct 22, and trading is set to begin on Oct 25.
Credit Suisse, KKR Capital Markets, TPG Capital BD and UBS are the joint lead managers to the IPO.