Deals
Pexa Kicks Off $910 Million IPO in Year’s Biggest for Australia
- Pexa, shareholders are selling 68.7 million shares in IPO
- Australia has seen almost A$900 million of IPOs pulled in 2021
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Online property exchange Torrens Group Holdings Pty and some of its shareholders are looking to raise A$1.18 billion ($910 million) in what would be Australia’s biggest initial public offering of the year, coming after a rocky patch during which three deals were shelved.
Torrens, which will be renamed into its brand name Pexa, is issuing about A$216 million worth of shares while its controlling shareholder Link Administration Holdings Ltd. and other investors are selling about A$916 million in shares, according to terms of the deal obtained by Bloomberg News.