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
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
