Singapore Exchange (SGX) today welcomed APAC Realty Limited to Mainboard under the stock code “CLN”.
APAC Realty Limited is a leading real estate services provider that operates a market-leading real estate brokerage in Singapore under the ERA brand. With a track record of 35 years, ERA Realty is an industry pioneer and one of Singapore’s largest real estate agencies.
In addition to real estate brokerage services, APAC Realty holds the exclusive ERA regional master franchise rights for 17 markets in the Asia-Pacific region including Australia, China, Indonesia, Japan, Vietnam, and also provides training, valuation and management services to real estate developments under its wholly-owned subsidiary, Realty International Associates (RIA).
Jack Chua, Executive Director and Chief Executive Officer of APAC Realty Limited said,”We are truly excited to bring APAC Realty to the market as the only listed real estate brokerage on the Singapore Exchange. Underpinned by a resilient business model, a recovering Singapore real estate market and an experienced and dedicated management team, the Group offers investors the opportunity to invest in an industry pioneer with a solid track record of 35 years of growth.
“With our presence currently spread across eight countries through our ERA sub-franchisees, we believe that the listing will provide a platform to expand our range of services and widen our geographical footprint. We are encouraged by the support we have received and remain vigilant in working towards the strategies that we have set out for ourselves,” Mr. Chua added.
Simon Lim, Head of Equity Capital Market (Sectors), SGX, said, “We are pleased to welcome the listing of APAC Realty on Mainboard. This listing marks the return of ERA Realty to the Singapore capital market, giving investors an opportunity to tap on the property cycle in Singapore and in the regional markets where ERA Realty has presence.”
With a market capitalisation of about S$234 million, APAC Realty Limited’s listing will boost SGX’s real estate cluster to a total of 107 listings with combined market capitalisation of about S$198 billion.
APAC Realty Limited opened at S$0.695 today.