Australia: Frontier Digital Ventures to raise $18.7m in ASX IPO

Online classifieds venture firm Frontier Digital Ventures is en route to listing on the Australian Securities Exchange, raising A$25 million ($18.69 million).

The Australian reported that stockbroking firms Bell Potter and Morgans have launched the initial public offering, with shares placed at A$0.50 and market capitalisation set up A$103.1 million.

Frontier Digital Ventures invests and an operates online classifieds businesses in frontier markets within Africa, in Pakistan, Sri Lanka and Myanmar. The firm is backed by Catcha Group, which stable of companies include iflix, iCar Asia and Rev Asia.

At the moment, Frontier Digital Ventures has stakes in 15 operating companies across 19 markets. These companies, or partners, range from automotive listing portals to online property classifieds.

The Australian reported that the venture firm typically holds 30 to 76 per cent equity interest in its targets.

Frontier was founded in 2014 by Shaun Di Gregorio, who headed property portal iProperty Group.

When contacted by DEALSTREETASIA, Di Gregorio declined to comment on the exercise.

Catcha Group sold iProperty to Australia’s realty website REA Group in November 2015, for $414 million.

Early in 2015, when Catcha Group was preparing to launch iflix, it had expressed interest to list the internet TV service on Nasdaq as well. Although this plan may have been put on the back burner for now as iflix has raised at least two sizeable rounds of financing over the 15 months.

Also read:

Frontier Digital Ventures clocks 5th African investment with Afribaba deal

Frontier Digital Ventures enters Myanmar with two deals

Frontier Digital Ventures invests $3.5m in PakWheels.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.