PEXA drags feet on breaking up its own monopoly, pleasing investors
While shareholders are hopeful of overseas riches, the property settlement platform is facing the threat of its stranglehold on e-conveyancing being broken.
When it comes to PEXA, the ASX-listed property settlement platform, most investors are focused on its opportunities in the United Kingdom. After all, a successful entry into that market could easily see its market capitalisation, some$2.5 billion, double.
But as the market starts to price in some of that potential for success, there’s a far messier political and regulatory battle dragging on locally. It is one that threatens to upend PEXA’s dominance in the online property settlement market.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
