Emtek is set to sell up to $55m of its shares in online real estate platform PropertyGuru in an Australian initial public offering that could bring in up to $257m in proceeds.

PropertyGuru, a Singapore-based online real estate portal backed by media conglomerate Emtek, is set to raise up to $257m when it floats on the Australian Stock Exchange, having set its price range at A$3.70 to $A4.50 (approximately $2.50 to $3.00). Reports last month suggested the company could be seeking as much as $274m in proceeds…

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