Download the Prospectus
Pre Money Equity Valuation
$80,000,000
Min Raise
$12,000,000
Max Raise
$12,000,000
Estimated Close
2018-06-15
Issue Type
IPO
Lead Manager
Bell Potter Securities Ltd
Type of Securities
Shares, Options
Date First Lodged
24/05/2018
Offer Costs $
$2,000,000
Market Cap Max
$92,000,000
Key Executives
David Williams (NEC), Mark Armstrong (MD), Edward van Roosendaal (ED), Sigal Pilli (NED), Philip Powell (NED)
Company Address
120 Balmain Street Cremorne VIC 3121
Stockbroker's Snapshot
Real estate digital marketing
Exchange
ASX
Chairman's Letter

Dear Investor,
RMA Global Limited (RMA, or the Company) is an online digital marketing business providing extensive data on
real estate agents, their active residential property listings and sale results as well as reviews from vendors and
buyers of residential real estate. This data can be used by agents to build their brand and market themselves, or
by vendors to compare agents and find an agent or agency to sell their property and build their brand.
The Company was one of the first online agent rating sites to launch in Australia and as a result, established an
early position with agents and agencies. RMA differentiates itself from its competitors by offering agents free
inclusion in its database including the ability to solicit bona fide reviews from vendors and buyers of residential
properties they have sold. There is also a premium subscription service where agents and agencies can pay a
monthly subscription fee for a more prominent ‘profile’ and additional products and services. Many agents value
the ability to have their work profile and performance in one place including reviews of their performance which
can be used as a powerful marketing and brand building tool.
As of 31 March 2018, approximately 27,000 agents had signed up to the RMA platform, representing
approximately 77% of active agents in Australia. Of these active agents, approximately 10,500 or 30% of active
agents in Australia are covered by a paid subscription to RMA.
During the year to 31 March 2018, RMA’s database showed that vendors and buyers posted over 173,000
reviews (approximately 14,000 reviews a month) on in excess of 121,000 properties sold. This equates to a
review for approximately one in every three residential properties sold in Australia. Of the vendors who posted
an agent review, approximately 24% said they used RMA to help select their agent.
The Company was formed approximately four years ago and as of 31 March 2018 (in Australia), its Annualised
Revenue Run Rate (ARRR) is $5.6 million per annum and Annualised Cost Base is $6.6 million.
The Company recently launched its operations in the US and New Zealand and is building the number of
agents using the site. The Company is not yet offering a paid monthly subscription service in the US and only
commenced offering paid subscriptions in New Zealand in April 2018.
Future revenue growth is expected to come from increased market penetration in Australia and New Zealand
from agents switching from free to paid subscriptions and paid subscriptions being launched in the US and in
other jurisdictions RMA plans to enter.
While the core business is set out above, there are opportunities to offer products to vendors and buyers who
have just sold or bought a property. RMA is also a significant aggregator of property data and there may be
opportunities to monetise this database in the future.
The cash raised under the Offer will be used for, among other things, additional working capital and to employ
additional staff to help accelerate the Company’s growth in Australia, North America and New Zealand and to
prepare for an anticipated market entry into Europe and Asia.
The key risks associated with an investment in the Company are highlighted in Section 5 and include that the
Company only has a short operating history and has a history of operating losses; ability to retain key personnel;
risks surrounding data acquisition and intellectual property, RMA’s ability to successfully execute its growth
plans, competition risks and risks relating to R&D incentives.
Applications for Shares and Options can only be made by completing and lodging an Application Form included
in or accompanying this Prospectus. Instructions on how to apply for Shares are set out in this Prospectus and on the back of the Application Form. Eligible Employees applying for Options under the Employee Option Offer
should also have regard to their personalised offer letter. Applications for Shares must be for at least 8,000
Shares and in multiples of 2,000 Shares thereafter, except that an application under the Employee Award Offer
can only be made for $1,000 worth of Shares (i.e. 4,000 Shares).
I encourage you to read the Prospectus carefully in its entirety and before making your investment decision, seek
professional advice.
On behalf of the Board of Directors, I commend the Offer to you.
Yours faithfully,
David Williams
Chairman
RMA Global Limited