The acquisition means more than 3400 real estate agencies and offices in Australia and New Zealand use PropTech’s services, according to a slide deck in front of funds. The company’s clients include the likse of Ray White, Raine & Horne and Elders.
PropTech’s $10.6 million raising was being offered to funds at 25¢ a share, and implied a $30.3 million market capitalisation upon listing and $27 million enterprise value.
The company is led by chief executive Joe Hanna and its board is chaired by former realestate.com.au chief executive Simon Baker. It is expected to start trading on the ASX on November 24.