Property developer Nicheliving Holdings has substantially revised its plans for a stock market float after striking a deal to give 20 per cent of the company to a Singaporean investor who recently launched a $21.4 million legal claim.

An amended prospectus released yesterday revealed that Jetwin Investments started proceedings in the Supreme Court of Western Australia against four of the special purpose vehicles (SPVs) that own projects managed by Nicheliving.

Jetwin, which has been a long-term investor Nicheliving projects, claimed it was owed $21.4 million by the SPV entities.

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