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PropertyGuru To Go Public

PropertyGuru, the Singapore-based online real estate firm, will be going public via special purpose acquisition company (SPAC), a Bloomberg report said Monday (July 19).

The company will be making a deal with Bridgetown 2 Holdings, which is backed by billionaires Peter Thiel and Richard Li.

The transaction might end up valuing PropertyGuru at $1.8 billion, according to confidential sources Bloomberg spoke with.

In addition, those sources said the deal will also include a PIPE, or private investment in a public entity. The PIPE is expected to be about $100 million to $150 million and anchored by institutional investors such as Australia-based REA Group.

The final details of the deal are being worked out now and might end up happening as early as next week, though the sources said the deal still isn’t a sure thing and may fall apart.

Back in January, Bridgetown 2 raised $300 million in a U.S. initial public offering (IPO), Bloomberg wrote. The shares last week were trading close to…

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