Save Max is offering its Realtors and employees a chance to participate in the development and growth of the platform by making them the stakeholders in the company. The settlement and delivery of the new shares to be issued is expected to be completed by March 2022, the company says.
Raman Dua, CEO of Save Max Group, says, “The employee shareholder program is the first step towards our larger goal of an initial public offering. Save Max will be going public in the next six to 12 months and this is a unique opportunity for all of the existing Realtors and employees who have been working with the company and contributing towards the growth of the company to become an owner and benefit before the company gets listed on the Toronto Stock Exchange.”
In a news release, Dua says, “While CEOs strive to maximise earnings and return value to shareholders, the best-run businesses go above and beyond. These businesses prioritize the needs of their customers and make investments in their employees and communities. In the end, it is the most promising method to create long-term wealth. Save Max’s transformation into a public corporation will be a huge moment in the company’s history. The commitments from the entire team show that they believe in our company and the future of real estate.”
Kapil Kalra, Save Max CFO, says, “The company has decided to issue three million equity shares to its own Realtors and employees. We are about to conclude our first round of equity share issuance wherein all Save Max employees, Realtors and associates will have an opportunity to own the stock at pre-IPO value. The capital raised will be used towards the aggressive expansion plans for Save Max and will fuel exponential targeted growth with a sales volume of over $100 billion and brand presence in 11 countries in the next five years.”
Save Max, founded in Brampton, Ont. in 2010, has more than 650 real estate agents and 56 franchisees across Canada and India. The company is working towards expanding its base internationally and has registered its trademark in several countries including India, Australia and the U.S.A.
