Honan Insurance Group has acquired a 3% stake in ASX-listed B2B real estate disruptor The Agency Group Australia for $500,000.
“We’re excited to announce our strategic partnership with The Agency Group. It brings together Honan’s unique approach in building market leading solutions and our significance experience working with the real estate industry,” said CEO Andrew Fluitsma.
The Agency said it will issue 7.7 million shares at $0.065 each to Honan, as well as one attaching option for every two shares, subject to shareholder approval on Aug. 28.
The Agency disrupts the real estate services industry by returning value, previously given to franchisees and offices, to agents and shareholders. The company, operating across eight offices in Australia, also offers property sale and management services, as well as mortgage financing, financial planning and conveyancing settlement.
