PropertyGuru initially prepared for a float in 2014, but their efforts were postponed when ‘choppy’ equity markets suspended tech listings, reports AFR.
The Singapore-based website holds a presence in nine markets, managing portals across Asia in addition to covering property-related publications, events, awards and marketing solutions.
Of note, in 2015, a consortium comprising TPG, Emtek and Square Peg Capital injected $175 million into the platform - Macquarie Capital and UBS were elected to run the float at that time.
Disruption within the real estate market has caused buyers to shift their focus into online platforms in an attempt to bypass fees made by real-world intermediaries.
PropertyGuru has recently expanded to take advantage of the 500 million people in the southeast Asia catchment, strengthening its foothold in the market by strategically investing in Vietnamese platform Batdongsan.