PropertyGuru Shareholders Approve Privatisation Offer

by Harvey Hancock
October 10, 2024

PropertyGuru Group have overwhelmingly voted in favour of a privatization merger with a 97% majority.

According to a press release circulated yesterday, the $1.1 billion privatisation merger by private equity firm EQT will close in Q4 2024 or Q1 2025.

PropertyGuru has only been a public company for two years, but continued losses and a lack of progress outside its native Singapore sent the rumour mill into overdrive earlier this year.

Now it appears Swedish PE firm EQT, itself publicly listed on the New York Stock Exchange, is ready to flex its muscles and make PropertyGuru profitable without the pressure of quarterly updates to the market.

by Harvey Hancock
October 10, 2024
Harvey is an accidental real estate journalist and professional copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has worked as a freelance copywriter since 2021, with a special focus on startups real estate. Harvey joined Online Marketplaces as a News Editor in 2022, writing over 2000 news stories and interviewing dozens of high profile industry leaders both in-person and as a co-host of the PPW Podcast.

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