PropertyGuru, an online real estate data company in the Southeast Asian region, has announced a deal with EQT Private Capital Asia for the acquisition of its entire business, valued at $1.1 billion, to be paid entirely in cash.
Listed on the New York Stock Exchange through a SPAC in 2022, PropertyGuru will withdraw from the stock market after the completion of EQT’s acquisition.
Janice Leow, a partner at EQT Private Capital Asia, believes that their experience in investing in technology companies and online product advertising systems will strengthen PropertyGuru.
Operating in Singapore, Malaysia, Vietnam, and Thailand, PropertyGuru provides services under the DDproperty brand in Thailand.
Source: Channel News Asia
TLDR: EQT Private Capital Asia acquires PropertyGuru for $1.1 billion in cash, leading to the company’s exit from the stock market. Janice Leow of EQT sees potential in strengthening PropertyGuru’s position in the real estate market.
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