- Briefing Your roundup of Asian tech and startup news that matter
Roehl Niño Bautista · · 1 min readSingapore’s PropertyGuru plans US listing, eyes Asia next
“PropertyGuru, the Singapore-based property technology company that agreed to be taken over last week by Richard Li Tzar-kai’s special public acquisition company (SPAC), may consider an Asian listing in the future after it goes public in New York,” reported South China Morning Post.
Details:
- PropertyGuru CEO Hari Krishnan said the firm is looking to list on the New York Stock Exchange in the fourth quarter, two years after the company dropped plans for a public listing in Australia. PropertyGuru aims to position itself as a “gateway” to real estate in Southeast Asia.
- The US has a deep capital pool and mature investors when it comes to tech businesses, Krishnan was quoted as saying.
Dive deeper:
- This listing plans follow PropertyGuru’s merger deal with Bridgetown 2, a SPAC backed by Peter Thiel and Richard Li. The deal gave the online real estate giant an enterprise value of roughly US$1.35 billion and an equity value of about US$1.78 billion.
- A look at PropertyGuru’s 2020 numbers showed that its revenue was lower than projections made in 2019. The real estate industry is among the markets worst hit by Covid-19.
Editing by Miguel Cordon and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
