In a move that tells you everything about where Ohmyhome’s listed entity was headed, the Singapore-born proptech company just sold its entire real estate brokerage arm — lock, stock, and barrel — for a single US dollar.
One dollar. Less than your kopi-o at the hawker centre. That’s what the whole Ohmyhome (BVI) holding company and its subsidiaries fetched when the deal closed on May 31, 2026. The buyer? Sterling Oat Ltd, a vehicle controlled by none other than the original founders themselves — sisters Race and Rhonda Wong. So the family’s keeping the property business. Just not under the Nasdaq-listed roof anymore.
Why? Because the numbers were brutal. Liabilities exceeded assets by US$14.77 million as of March 2026.
The company had already burned through US$15.1 million raised during its IPO. And on top of offloading the business for a dollar, the listed entity also waived approximately US$19 million in subsidiary debt. That’s not a sale. That’s an exit strategy dressed up in a suit.
The Nasdaq pressure was real too. Share prices had cratered to US$0.64 by late June 2026 — way below the US$1 minimum bid requirement.
They’d already done a reverse stock split back in March 2025, cutting outstanding shares from around 24 million down to 2.4 million, just to keep the listing alive. Think of it like trying to prop up a sagging sofa with a stack of old directories. Works temporarily, but everyone can see the problem.
So what’s the listed Ohmyhome pivoting to now? Digital marketing — strategy, content creation, advertising, performance monitoring.
All eyes on Singapore’s online advertising market. It’s a clean break from brokerage, and honestly, not a crazy bet given where ad spend is going. The company originally listed on Nasdaq back in March 2023, raising US$15.1 million at an IPO price of US$4 per share before the long slide began.
The property businesses carry on privately under the Wong sisters’ leadership. No retrenchments. No disruption to customers or partners. Just a separation between the public vehicle and the property platform — giving both sides more flexibility. Meanwhile, Singapore’s property market continues to draw serious developer attention, with over 5,000 residential units expected from three prime GLS sites launched under the government’s 1H2025 programme — the kind of housing activity that once formed the backbone of platforms like Ohmyhome. The sale was disclosed in June 18 filings with the US Securities and Exchange Commission, making the restructuring officially a matter of public record.
Whether the digital marketing bet pays off, though? That’s still very much an open question.
