Real-estate agency PropNex lodges preliminary offer document

SINGAPORE (June 14): PropNex Realty, Singapore’s largest real estate agency, has lodged its preliminary offer document with the Monetary Authority of Singapore for its Mainboard listing on the Singapore Exchange.

PropNex plans to raise about $40 million from the initial public offering (IPO), according to a June 1 Bloomberg report, citing people with knowledge of the matter. The company is also targeting a market capitalisation of as much as $250 million, Bloomberg said, adding that the IPO shares could be priced at 62-68 cents each.

See: PropNex Realty said to seek $40 mil from IPO launch

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