Chinese real-estate portal Juwai, which has completed a $10 million pre-initial public offering raising, is targeting a local float late this year.
This column understands the latest raising was supported by local and Hong Kong-based institutional investors and high net worth individuals. Juwai, which connects Chinese property buyers with sellers in other parts of the world, is aiming to raise about $30 million for its run at the ASX.
Brokers Baillieu Holst and Evans & Partners managed the pre-IPO raising of convertible notes to investors, as revealed by Street Talk last month. The notes convert into shares at the time of listing.
Despite a clampdown in Australia in some areas of foreign lending, the Juwai business continues to grow in its key markets.
Elsewhere, boutique corporate advisory firm Cygnet Capital is finalising a pre-IPO funding round of $1.5 million for GetSwift, a smart delivery platform that facilitates the management of drivers, dispatch tasks and track goods delivery in real-time.
The funding round to a select group of investors, is said to have been well received, and the company is targeting an ASX listing to raise at least $5 million.