Australian property exchange platform operator PEXA Group ASX:PXA warned on Friday that a New South Wales pricing regulator's proposed fee cuts would strip around A$70 million ($48.41 million) from its annual revenue, sending its shares to a record low.
PEXA Group shares tumbled as much as 17.3% to A$8.97, their lowest point on record, and were the top losers on the benchmark index ASX:XJO, which was last up 0.9%.
($1 = 1.4459 Australian dollars)