Australia's PEXA hits record low after flagging revenue hit from regulator's proposed fee cuts
03/07/2026 02:14
Australia's PEXA hits record low after flagging revenue hit from regulator's proposed fee cuts July 3 (Reuters) - Australian property exchange platform operator PEXA Group PXA.AX warned on Friday that a New South Wales pricing regulator's proposed fee cuts would strip around A$70 million ($48.41 million) from its annual revenue, sending its shares to a record low.
PEXA Group shares tumbled as much as 17.3% to A$8.97, their lowest point on record, and were the top losers on the benchmark index .AXJO, which was last up 0.9%.
($1 = 1.4459 Australian dollars)
(Reporting by Shruti Agarwal in Bengaluru; Editing by Subhranshu Sahu)
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