realestate.com.au to list
- — 13 October, 1999 21:49
Despite the fizzle of Internet stock listings in recent months, realestate.com.au today announced its intentions to list on the Australian Stock Exchange with a public issue of 15.3 million shares.
Under the November-scheduled IPO, shares are priced at 50 cents each, and will raise the real estate portal $7.65 million to be used in further developing the company's online real estate business, a statement says.realestate.com.au's prospectus forecasts $3 million in sales revenue for the fiscal year ending June 30, 2000.
The IPO opens October 25 and is underwritten by Macquarie Equity Capital Markets.