PropertyGuru Completes Business Combination With Bridgetown 2 Holdings
March 17, 2022
PropertyGuru Group completed its previously announced business combination with Bridgetown 2 Holdings Limited (Bridgetown 2), a special purpose acquisition company. The transaction raised approximately US$254 million of gross proceeds and valued PropertyGuru at about US$1.36 billion enterprise value and US$1.61 billion equity value, with the combined company beginning trading on the NYSE under ticker “PGRU”.
- Buyers
- PropertyGuru Group Limited, Bridgetown 2 Holdings Limited, Pacific Century Group, Thiel Capital LLC, KKR, TPG Group, REA Group, Baillie Gifford, Naya, Akaris Global Partners, Malaysia asset manager (unnamed)
- Targets
- PropertyGuru Pte. Ltd., PropertyGuru Group Limited, Bridgetown 2 Holdings Limited, Bridgetown 2 Holdings Limited (PubCo post-combination)
- Industry
- Cloud & SaaS
- Location
- Singapore
- Transaction Type
- Buyout
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