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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