Banks looking to help PropertyGuru make its move

June 3, 2019
Share this Post: 

PropertyGuru has been deciding over an Australian Securities Exchange listing, asking banks to give it some incentive to make the move

Street Talk understands PropertyGuru - a Singaporean company backed by private equity bigwigs TPG Capital and KKR & Co - has taken pitches from a handful of investment banks in recent weeks, who were asked to respond to a formal request for proposal.

PropertyGuru wants to know what bankers reckon about its prospects for an Australian initial public offering, which investors would be interested in buying stock and, ultimately, what the company could be worth.

While PropertyGuru's operations are offshore, Australia has a strong history of supporting such online listings business including in the real estate sector.

The pin-up is market darling REA Group, which has grown from a ASX-newbie worth $29.5 million in 1999 to be a $11.6 billion giant now trading at 30-times profit and 11.6-times revenue.

Similarly Domain Holdings, part owned by The Australian Financial Review's publisher Nine Entertainment Co, is a $1.85 billion company trading at 37-times profit and 5.1-times revenue.

A TPG-led consortium bought PropertyGuru for about $US100 million ($145 million) in 2015, and set out to grow the company. 

Read more here

Join us in Miami Beach, June 5-7 for the Global Online Marketplaces Summit.


June 3, 2019

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Lpw Colombo
LankaPropertyWeb Launches Guide to Buying and Selling Property in Sri Lanka

Leading Sri Lankan property portal LankaPropertyWeb has released a guide to buying and selling property in the island nation. Designed...

Read More
Casap Appointment Booking
French PropTech Casap Raises €2.2 Million and Plans to Launch a New Portal

Parisian PropTech startup Casap (formerly Scoppe) has announced that it has raised €2.2 million in seed funding and that it...

Read More
Nobroker Unicorn
Indian FSBO Vertical NoBroker Ties Up Funding Round to Become a PropTech Unicorn

Indian housing marketplace NoBroker has announced that it has raised $210 million dollars in a Series E funding round and...

Read More
Proptexx Hero Image Interview
Ten Questions With Josh Lamerton from PropTexx

As property hunters all over the world get more demanding about how their next homes are presented to them, the...

Read More

Popular News