Last week it was reported that the founders of iProperty (ASX:IPP) were looking to sell down their stake in the iProperty Group. Filings with the ASX show that Catcha Media Pte Ltd (part of the Catcha Group) has sold 10,000,000 shares at $2.63 per share. This was around 25% of the stake in iProperty held by the company.
At the same time, Rev Asia, a Catcha Group controlled business, received approval from its shareholders to sell its 27.5% stake in iCar Asia (another Catcha Group controlled business).
It has been a tough year for the investments made by Catcha Group. The iProperty Group is down 34% in share price since March, iCar Asia is down 36% since July, iBuy Group is down 70% since March (and below its listings price), and Rev Asia is down 28% since September.