PropertyGuru seeks to raise $337.95m in Australian listing

Proceeds will be partly used to expand into online mortgage marketplace.

Online property portal provider PropertyGuru is planning to list on the Australian Securities Exchange (ASX) with the aim of raising about $337.95m (A$363m), according to a press release.

The company has lodged a prospectus with the Australian Securities and Investment Commission in relation to an IPO and listing on ASX at an indicative price range of $3.44 (A$3.70) to $4.19 (A$4.50).

According to PropertyGuru CEO Hari Krishnan, part of the proceeds will be used for a potential expansion into some direct adjacencies, including an online mortgage marketplace and data offerings.

PropertyGuru operates digital property classifieds marketplaces in Singapore, Vietnam, Malaysia, Thailand and Indonesia.