PTG - PropTech Group

[System]

Real Estate Investar comprises Real Estate Investar Group Limited and its wholly owned subsidiaries including, Real Estate Investar Australia Pty Limited and Real Estate Investar Ltd, which own and operate the 'REI' websites www.realestateinvestar.com.au and www.realestateinvestar.co.nz.

Real Estate Investar is a leading provider of integrated online services to Australian and New Zealand property investors to assist in the identification, analysis, acquisition, tracking and accounting of residential investment property.

It is anticipated that REV will list on the ASX during December 2015.

 

[alonzokim]

Sounds good!

 

[alonzokim]

Any other real estate investor group?

 

[System]

On November 16th, 2020, Real Estate Investar Group Limited (REV) changed its name and ASX code to Proptech Group Limited (PTG).

 

[Dona Ferentes]

After months off the boards, the acquisition of two rival platforms and a rebrand, real estate technology outfit PropTech Group is poised to land back on the ASX. The company formally known as Real Estate Investar Group has been undertaking a $10.6 million capital raising lead by Ord Minnett. The deal is a backdoor listing of sorts and comes after PropTech bought Real Estate CRM Pty Ltd, which owns two customer relationship management platforms aimed at the property sector, MyDesktop and VaultRE.

MyDesktop is one of the largest real estate sale CRM platforms in the country and was owned by ASX-listed Domain. It provides its customers with software to help manage property listings and sales, as well as reporting and analytics and managing contact with clients, among other things.

The acquisition means more than 3400 real estate agencies and offices in Australia and New Zealand use PropTech's services, according to a slide deck in front of funds. The company's clients include the likse of Ray White, Raine & Horne and Elders.

PropTech's $10.6 million raising was being offered to funds at 25¢ a share, and implied a $30.3 million market capitalisation upon listing and $27 million enterprise value.

Real estate tech business PropTech set to relist on the ASX

After months off the boards, the acquisition of two rival platforms and a rebrand, real estate tech outfit PropTech Group is poised to land back on the ASX.

www.afr.com

 

[peter2]

PTG appeared in my scan results during the week and the chart looks quite bullish. There was an initial stag rally, the selloff was mainly profit taking from the weak holders that got in on the IPO. Since the low (0.31) price has started to rally.

I looked at the business activity and thought how can PTG compete against the online property giants REA and Domain? I just don't see a long term future for PTG unless it does something significantly better than the top two. I will disclose that I've started a spec position because the chart look bullish. I'm not expecting much and if there's a quick rally, I'll be grabbing the profits. It's thinly traded and I'll be using the weekly line as a trailing exit trigger.

 

[Dona Ferentes]

On the 31st of October, Australian real estate software company PropTech, announced that it was set to be acquired by U.S. realty technology firm MRI Software through a Scheme of Agreement, under which MRI would acquire all PropTech shares for $0.60 cash per share, equating to an implied equity value of approximately A$93.4 million on a fully diluted basis.

This acquisition represents a premium of 131% to the closing price of 26 cents on the October 28.

The deal is likely to go through, with the Board of PropTech unanimously recommending that PropTech shareholders vote in favour of the Scheme in the absence of a Superior Proposal.

In response, PropTech Group Chairman Simon Baker stated,

"The Board believes that the proposal received from MRI represents a compelling opportunity for PropTech shareholders to realise a significant premium to the value of their PropTech shares via the certainty of cash consideration and in a timeframe that would not otherwise be available."

 

[System]

On February 24th, 2023, PropTech Group Limited (PTG) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between PTG and its shareholders in connection with the acquisition of all the issued capital in PTG by Rockend Technology Pty Limited.