KUALA LUMPUR: Catcha Group has raised A$30 million (122.23 million) from the initial public offering (IPO) of Frontier Digital Ventures on the Australian Securities Exchange (ASX) yesterday.

Valued at over A$108 million, Frontier Digital is the fifth IPO for Catcha. Altogether the group has four ASX listings and one Bursa Malaysia listing, which is ACE Market-listed Rev Asia Bhd.

Catcha co-founder and chief executive officer Patrick Grove said the listing of Frontier Digital marked a tremendous milestone for the group.

“We are just at the start of our expansion into global emerging markets and are passionate about harnessing the power of the Internet to transform everyday experiences, such as searching for a house or a car across the globe,” he said in a statement.

Frontier Digital is a leading operator of online classifieds businesses in frontier markets with a portfolio of 15 operating companies, each of which is a market leader with an early-stage advantage in either the online car, property or general classifieds space.

“These businesses represent tremendous opportunities to benefit from increasing and primarily mobile access to the Internet and high gross domestic product (GDP) growth.

“The company’s founding shareholders, Shaun Di Gregorio and Catcha Group, have a proven track record of building market-leading digital classifieds businesses in emerging markets,” said Catcha in the statement.

The group said Frontier Digital’s markets present tremendous opportunities, with a combined 648 million mobile users and a combined GDP of US$3.6 trillion (RM14.68 trillion).

“The company has an executive management team with a proven track record in online classifieds spanning more than 40 countries across five continents over the last 18 years,” it added.

Di Gregorio said the strong demand from both institutions and professional investors for Frontier Digital shares is a strong vote of confidence in the company’s growth strategy.