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KKR’s PropertyGuru goes public via an SPAC deal (also)INTL

KKR’s PropertyGuru goes public via an SPAC deal (also)

There’s another SPAC deal in town! (Shocking, right?!)

This time, we’ve covering PropertyGuru Ltd, an online real estate company, which is apparently considering joining the US IPO frenzy via a merger deal with a blank-check company. The company is already a major household name in Singapore, where the real estate market is intense, to say the least. 

Although the decision is not yet public, it’s been reported that PropertyGuru is in talks with several SPACs (maybe they’ve taken a queue from The Bachelor to explore their options?). The company is backed by private-equity firms KKR and TPG Capital, and the potential IPO deal could set its valuation at $1b.

why it matters
If PropertyGuru goes ahead with a US stock market debut, it will be following in the footsteps of other successful Asian startups that are chasing the American SPAC dream, such as Indonesia’s Traveloka.