Rockend Technology Pty Ltd. agreed to acquire PropTech Group Limited (ASX:PTG) for AUD 90.49 million on October 31, 2022. Transaction is subject to PropTech Group Limited (ASX:PTG) shareholder and board approval, court approval, Australian Competition and Consumer Commission approval and from Foreign Investment Review Board approval. As of October 31, 2022 PropTech Group Limited board approved the deal. The deal is expected to close in Early-mid February 2023. As of December 16, 2022, Federal Court of Australia made the orders to convene and hold a meeting of PropTech Group Shareholders to consider and vote on the proposed Scheme. As of December 22, 2022, ACCC has cleared the acquisition. The scheme meeting is scheduled to take place on February 7, 2023. The shareholders of PropTech have approved the transaction. As of February 13, 2023, the scheme has been approved by the Federal Court of Australia. As of February 10, 2023, all conditions have been fulfilled. The Scheme is expected to be implemented on February 22, 2023.


PropTech Group is being advised by Nomura Australia Limited, as a financial adviser, and Nicholson Ryan Lawyers, as legal adviser. MRI is being advised by Highbury Partnership, as financial adviser, and Corrs Chambers Westgarth, as legal adviser. Stephen Seear of BDO Corporate Finance Pty Ltd acted as fairness opinion provider to PropTech Group.

Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited (ASX:PTG) from H&G High Conviction Limited (ASX:HCF) managed by H&G High Conviction Limited (ASX:HCF) and others on February 22, 2023.