Print Big superannuation administrator, Link has moved further down the road of floating off its property settlement business, PEXA, after posting a decline in net profit after tax of $65 million. Link, which is the major shareholder in PEXA, said today that the other shareholders – the Commonwealth Bank and Morgan Stanley – had agreed to explore the possibility of an initial public offering (IPO) for the business. It represents a significant move by Link and the other shareholders in circumstances where PEXA recorded a strong half with a 27% increase in revenue to $99.2 million and a 90% lift in EBITDA to $51.5 million. Commenting on the broader Link half-year result, the company’s chief executive, Vivek Bhatia said it had successfully navigated some challenging external conditions, demonstrating financial resilience.