iProperty's welcome asset sale

IProperty's sale of its equity stake in iCar Asia will ease governance concerns in addition to strengthening its balance sheet.

The sale of the equity stake in iCar Asia (ICQ) by Asia-focused real estate website owner iProperty Group (IPP) is a positive development for shareholders in more ways than one.

iProperty will get around $7 million from the share sale, which means it cash holdings will nearly double to about $15 million.

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