REA Group buys $106m chunk of iProperty Group

Owner of realestate.com.au takes 17.22 per cent shareholding in Southeast Asian firm, seeks board position.

Online real estate giant REA Group has acquired a large stake in a Southeast Asian property business for $106.3 million.

The owner of realestate.com.au has bought a 17.22 per cent shareholding in ASX-listed iProperty Group, an online advertising portal to real estate agents and property developers in Malaysia, Hong Kong, Macau, Indonesia and Singapore.

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