Australia's Link says shareholders to explore taking PEXA public (updated)
24/02/2021 22:34
(Adds background on stake sale, PEXA's half-year results)
Feb 25 (Reuters) - PEXA shareholders have agreed to explore
the possibility of taking the online property transaction firm
public, Australia's Link Administration Holding LNK.AX , which
owns 44.2% stake through its unit, said on Thursday.
Morgan Stanley Infrastructure Partners MS.N and
Commonwealth Bank of Australia CBA.AX own the rest of the
company.
Link, which provides services to fund managers and trading
firms, said it will also continue with a trade sale process for
its stake, a decision that was taken earlier this month based on
its strength in the domestic housing market. urn:newsml:reuters.com:*:nL1N2K60JZ
The company had then said that it received "good interest"
for its stake in PEXA.
"In light of the future expected growth in PEXA, all three
PEXA shareholders have agreed to explore the viability of an IPO
of the business," the company said.
For the half year ended Dec. 31, PEXA reported a 28% jump in
transaction volumes and a 27% rise in revenue.
(Reporting by Shriya Ramakrishnan in Bengaluru; Editing by
Shailesh Kuber and Arun Koyyur)
((Shriya.Ramakrishnan@thomsonreuters.com; +91 8061822842 ;))