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PEXA lists on the Australian Securities Exchange

PEXA lists on the Australian Securities Exchange

News release - 1 July 2021

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Melbourne, Australia – 1 July 2021 – PEXA Group Limited (PEXA or the Company), operator of Australia’s leading digital property settlements platform, is pleased to announce that trading of its shares on the Australian Securities Exchange (ASX) will commence today, on a conditional and deferred settlement basis, under the code ‘PXA’, following the successful completion of its initial public offering (IPO).

The IPO raised gross proceeds of $1.174 billion at a price of $17.13 per share, representing an enterprise value of $3.3 billion. The IPO has introduced new institutional and retail shareholders who can support PEXA through the next phase of its growth; supported employees, directors, senior personnel and practitioner partners in becoming shareholders; and provides the Company with the benefits of an increased profile as a listed entity going forward.

On listing, Link Administration Holdings Limited (via Link Property Pty Ltd) will hold 42.8 per cent of PEXA shares on issue, with the Commonwealth Bank of Australia holding 23.9 per cent and the balance to be held by new institutional and retail investors, employees, directors and practitioner partners.

PEXA Chairman Mr Mark Joiner said: “We are delighted with the outcome of the IPO and the support shown by institutional and retail investors. Our listing today on the ASX marks another important milestone for PEXA, as we look to explore opportunities to take our experience and expertise into new markets in Australia and
internationally. I would like to thank our existing shareholders for their ongoing support and warmly welcome new investors, including many of our employees and practitioner partners, to share in the exciting journey we have ahead of us.”

Barrenjoey Advisory Pty Limited, Macquarie Capital (Australia) Limited, Morgan Stanley and UBS AG, Australia Branch acted as Joint Lead Managers and Underwriters to the Offer. Allen & Overy acted as legal adviser to PEXA.

Key Offer Dates

Commencement of ASX trading on a conditional and deferred settlement basis 1 July 2021
Settlement date in accordance with the Underwriting Agreement 1 July 2021
Expected Completion (Shares issued or transferred to successful Applicants), as outlined in PEXA's pre-quotation disclosure announced to ASX on 1 July 2021 2 July 2021
Expected commencement of trading of Shares on ASX on a normal settlement basis 5 July 2021
Expected dispatch of holding statements 6 July 2021

Ian Gilmour
Company Secretary 

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