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iProperty.com.my parent company IPGA Limited (http://www.ipgalimited.com/) has today confirmed its initial public offering (IPO) on the Australian Securities Exchan
ge.
IPGA is majority owned by Catcha Media Group, one of South East Asia’s leading media and entertainment groups with operations in Singapore, Malaysia, Indonesia and Hong Kong. Its portfolio includes Malaysia’s largest English language publisher, Catcha Publishing which publishes 13 titles in the Malaysia market.
IPGA executive chairman Patrick Grove said, “We are very excited to have the opportunity to tap into capital markets which will give us the resources to take the business to another level.”
He added, “A significant part of the proceeds from the IPO will be used to replicate the success of iProperty.com.my in other Asian markets, such as Singapore, Thailand and the Philippines, which the company plans to enter by way of acquisitions, some of which will be made immediately subsequent to the IPO.”
Established in 2003, iProperty.com.my today dominates the Malaysian online property market. The website works with over 600 real estate agents and 80 top developers to advertise over 15,000 properties. The company has also expanded to include a high-end counterpart with.iLuxury.com.my.
“In the last eight years, the growth of online property websites in the United Kingdom and Australia has been phenomenal,” Grove said, adding that, “Those markets now have 70% to 90% of agents paying to advertise with online portals. In Asia the figure is still 10%, which means that there is still enormous potential for market growth.”
From January 2006 to April 2007 visitors to iProperty.com.my increased by 295% to over 350,000 per month. iProperty.com.my has been confirmed as Malaysia’s leading online property website by both Alexa.com and an independent report by Frost & | 
