One of Australia's largest real estate companies is looking to make its share market debut next month, giving the company a A$282 million ($307 million) market value.
Founder and chief executive John McGrath said the float will help fund its expansion of franchises and company-owned real estate agencies.
McGrath Holding
lodged its prospectus and has 72.1 million shares, at A$2.10 each, on offer to mum-and-dad investors from November 23.
The company, founded in 1988, operates in Queensland, New South Wales, the ACT and is in the process of expanding to Victoria.
In the year to March 31, the company was estimated to be the third largest residential real estate sales network in Australia by total value of properties sold. The business has five parts, including property management, mortgage broking, auction services and real estate training.
