iProperty market cap crosses RM1bil mark
By Digital News Asia November 7, 2013
- Serves 4.1 million property seekers per month, 20,000 agents and 300 developers across Asia
- Market cap of RM1.07bil (US$336.4mil) is 15 times its original market capitalisation
Founded and controlled by the Catcha Group, iProperty Group was floated on the Australian Securities Exchange (ASX) in September 2007 at A$0.25 (US$0.24) per share. It recently touched A$2 (US$1.90), giving an eight-time return to shareholders, Catcha Group said in a statement.
As of Nov 7, iProperty Group had a market capitalisation of just over RM1.07 billion (US$336.4 million), 15 times its original market capitalisation.
Catcha Group claimed that iProperty Group’s online advertising business has seen “phenomenal growth” over the last six years, demonstrating “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 estate agents and 300 property developers across Asia. Its mobile property search app has been downloaded 1.2 million times.
Headquartered in Kuala Lumpur, the iProperty Group was established following the acquisition of iProperty.com.my in 2003. A series of regional launches and acquisitions followed.
The company currently operates 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,” said Catcha group chief executive officer Patrick Grove (pic).
“We’ve been privileged to work closely with iProperty Group’s amazing team and fellow cofounders to achieve this RM1-billion milestone,” he said.
The Catcha Group currently boasts a portfolio of online assets worth in excess of RM1.5 billion (more than US$500 million), including three public companies and numerous private investments.
In addition to iProperty Group, Catcha Group is the major shareholder of iCar Asia, the ASX-listed network of online automotive sites in Asean, and a key shareholder in leading property portal group, propertyfinder.ae. It is also the major shareholder of Bursa Malaysia-listed Catcha Media Berhad.
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