PEXA's top shareholder Link Administration Holdings Ltd said on Monday it would take the online real estate company public, after KKR & Co's takeover bid for the unit fell through.
The parent company of PEXA has confirmed that the property settlements platform is expected to list on the ASX in late June, after turning down suitors in favour of a $3.3 billion IPO.
Mortgage Business
PEXA partners with homelessness organisation By Malavika Santhebennur 12 March 2021
The digital property settlement service provider has formed a funding partnership with an organisation that tackles homelessness in Australia.
Property Exchange Australia (PEXA) has announced that it has entered into a new funding partnership with Homes for Homes, in a bid to support the latter’s goal of addressing homelessness in Australia.
Under the partnership, PEXA will grant at least $250,000 in funding to Homes for Homes across two years through a national grant disbursement program designed to help increase the supply of social and affordable housing for those who require it.
Commenting on the broader Link half-year result, the company’s chief executive, Vivek Bhatia said it had successfully navigated some challenging external conditions, demonstrating financial resilience.
He said the group reported EBITDA of $137 million and net operating cash flow of $192 million, having navigated the impacts of Brexit, COVID-19 and superannuation regulatory reforms including Protecting Your Super (PYS), Putting Members Interests First (PMIF) and the Early Release Scheme.
The company said it had handled 2.4 million early release superannuation payments valued at around $18 billion, and had managed contract renewals with Cbus and Hesta.
The Link board declared an interim dividend of 4.5 cents per share 60% franked.