Australian property settlements firm PEXA shelves IPO amid market selloff

Australian property settlements firm PEXA shelves IPO amid market selloff

FILE PHOTO: A visitor takes a photograph of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia March 6, 2017. REUTERS/Steven Saphore

Property Exchange Australia (PEXA), an online property settlements firm owned by the nation’s big banks and local governments, has shelved its initial public offering (IPO) due to market volatility, a source said on Thursday.

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