Singapore real estate agency ERA aims to relist on SGX, says new owner
Real estate agency ERA will aim for a re-listing on the Singapore Exchange within the next two to three years, its new owner, private equity firm Northstar Group, said in a statement on Wednesday.
"We aim to re-list ERA as a 'pure play' real estate brokerage firm on the Singapore Exchange, within the next two to three years," said Northstar managing partner Ashish Shastry in the statement.
Northstar bought ERA for an undisclosed sum from Hersing executive chairman Harry Chua. An earlier Straits Times report put the figure at between $120 million and $140 million, less than the $150 million that Mr Harry Chua originally asked for.
The deal was finalised on Wednesday. As part of the deal, a group of senior ERA executives led by dealmaker Jack Chua will invest in a stake in the company.