ERA owners exploring IPO for S'pore's biggest property agency
Company's agents clocked 21.5% more transactions in 2016 than in 2015, surpassing market's 6.7% growth
NORTHSTAR Group said it is in the early stage of exploring an initial public offering of Singapore's biggest real estate agency ERA Realty Network, which has turned out to be one of its top-performing investments thus far.
But the Singapore-headquartered private equity firm remains mum about when ERA will return to the local bourse since the delisting of its former listed parent Hersing Corporation four years ago.
Northstar's co-founder and managing director Patrick Walujo said there is still some runway before the listing takes off, since its fund that bought into ERA has a 10-year lifespan that is extendable.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
China home sales slump 47% over May Day holiday vs 2023
China builder Vanke tells investors it readied money to pay bond
Swedish property group SBB's loss shrinks in Q1 and sees improving capital market
Consider housing policy tweaks to boost Singapore’s birth rate
HDB resale volumes recover in April as fewer BTO launches push demand to secondary market
More homes planned in Media Circle to support housing demand