SINGAPORE - Online property portal group PropertyGuru is seeking to list either in Australia or Singapore within the next 18 months, the company's chief executive said Tuesday.
If the company lists in Singapore it would be the first online property portal to list in the city-state, while in Australia it would be the second after ipropertygroup Ltd., which raised 37 million Australian dollars ($33.4 million) from its 2007 initial public offering.
"An IPO remains in the pipeline," Steve Melhuish, co-founder and chief executive of PropertyGuru, said in a statement. He, however, didn't elaborate on the size of the planned offering.
PropertyGuru lists properties for sale and rent in four Asian countries--Singapore, Thailand, Indonesia and Malaysia. The company, which was founded in 2006, secured an investment of 60 million Singapore dollars (US$47 million) in 2012 from Deutsche Telekom.
In the statement, the company said visits to its websites across the four countries grew by 19% to reach 125 million last year, while property listings increased by 60% to 805,060 at the end of 2013.
It said Singapore topped its web views, with 57% of its web traffic coming from the city-state.