Leading international online investment firm, Catcha Group has announced that one of it’s main portfolio companies, the iProperty Group, which owns and operates Asia’s No.1 network of property websites, has crossed the MYR 1 billion in market capitalisation milestone.
Founded and controlled by the Catcha Group, iProperty Group (ASX:IPP) was floated on the Australian Securities Exchange in September 2007 at AUD 0.25 per share. It recently touched AUD 2.00, giving an 8x return to shareholders. As of 7 November, iProperty Group had a market capitalisation of just over MYR 1.07 billion, 15 times its original market capitalisation.
Serving the region’s burgeoning real estate industry, the phenomenal growth of iProperty Group’s online advertising business over the last six years demonstrates the power and potential of the digital revolution sweeping the region.
iProperty now serves over 4.1 million property seekers per month and works with over 20,000 real agents and 300 property developers across Asia. Its mobile property search app has been downloaded a record breaking 1.2 million times.
Headquartered in Kuala Lumpur, iProperty Group was first established following the acquisition of iProperty.com.my in 2003. A series of regional launches and acquisitions followed. The company currently operates market leading property portals in Malaysia, Indonesia, Hong Kong, Macau and Singapore, and has investments in India and Philippines. It also runs a profitable regional property exhibition business.
“At Catcha Group our investment approach is to invest in and accelerate internet companies,” explained Catcha Group, Group CEO Patrick Grove. “We’ve been privileged to work closely with iProperty Group’s amazing team and fellow co-founders to achieve this MYR 1 billion milestone.”
Source: Catcha Group
Edited by Gordana Davila