Can you imagine eBay in the US waiving listing and transaction fees just to gain market traction, and just relying on advertising income to cover operating costs?
By accepting this deal, the listing agent received more than he would have in a typical transaction, where a 6% commission is split evenly between the representatives of the buyer and seller.
The transaction also is subject to Aussino's compliance with the Singapore Exchange's listing rules, but Aussino said Friday its financial adviser believed the company wouldn't be able to comply with them.