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Doris Yu · · 1 min readSources: PropertyGuru mulls a US IPO through a SPAC merger
“PropertyGuru, the Singaporean online real estate firm backed by private-equity firms KKR and TPG Capital, is considering a US listing through a merger with a special purpose acquisition company (SPAC),” reported Bloomberg, citing people familiar with the matter.
Details:
- PropertyGuru is in early talks with several blank-check firms and aims to sign a deal as early as this year.
- The Singaporean proptech firm could be valued at around US$1 billion after the potential merger.
Context:
- The move comes after the firm raised US$220 million in funding from global investment firms TPG and KKR in September last year and acquired Malaysian online property data firm MyProperty Data two months after.
- PropertyGuru canceled its US$260 million listing in Australia in 2019 over “market uncertainty” concerns.
Editing by Miguel Cordon and September Grace Mahino
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