Classified Ad Ventures Takes Equity Stake in IPGA Ltd

Classified Ad Ventures, through its investment vehicle CAV Investment Holdings Pty Ltd, announced today that it has subscribed to a placement of 5,000,000 shares in IPGA Ltd (ASX:IPP). This represents just over 4% of the enlarged capital of IPGA, owner of Asia’s No. 1 network of property websites. The placement, at a price of $0.10 per share, represents the first direct investment received by IPGA since its listing on the ASX in September 2007 and is a strong endorsement of the potential of IPGA’s network of market leading property portals in Asia.

Simon Baker, the former Chief Executive Officer of the REA Group Ltd (formerly realestate.com.au Ltd) is the CEO and founder of Classified Ad Ventures. Mr. Baker is widely recognised as a preeminent global expert in the online classifieds industry. The placement in IPGA is the sixth strategic investment made by Classified Ad Ventures.

Patrick Grove, Executive Chairman of IPGA said, “Mr. Baker did an extraordinary job taking the REA Group from $4 million to $155 million in revenue within 7 years, and we are excited that like us he sees great parallels between the growth and success of REA Group and the opportunity that IPGA presents.”

“IPGA’s network of online property portals has delivered fantastic growth over the last 12 months securing and maintaining a market-leading position in each of the markets in which it operates. We believe the company has great potential especially given the early stage of the online property classifieds space in Asia. Given IPGA’s great start, we believe that the company will capitalise on the continued growth of the internet and online property marketing in the region,” says Simon Baker, Chief Executive Officer of Classified Ad Ventures.

IPGA Ltd owns and operates a leading network of property portals in key Asian markets including Singapore, Malaysia, Hong Kong, Taiwan, India and the Philippines, under the iProperty.com brand. It has over 1 million monthly visitors, 90,000 registered members and an average of more than 200,000 property listings available on its network daily. Over 5,500 real estate agents and developers utilise the network of portals

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