Details 26 July 2021 PropertyGuru is merging with special purpose acquisition company (SPAC) Bridgetown 2 Holdings, to go public on the New York Stock Exchange. The combined company will have an enterprise value of about US$1.35 billion and an equity value of approximately US$1.78 billion at closing. PropertyGuru, backed by KKR, TPG Capital and REA Group, will retain over 70% ownership of the listed company. At the same time, KKR, TPG Group and REA Group will roll 100% of their equity into the combined company. PropertyGuru’s management team, led by CEO and MD Hari V. Krishnan (pictured) and CFO Joe Dische will continue to lead the public company after the completion of the transaction. According to PropertyGuru, the transaction is expected to deliver up to US$431 million of gross proceeds, including a US$100 million private placement from investors including Baillie Gifford, REA Group, Naya, Akaris Global Partners, and one of Malaysia’s largest asset managers. The transaction is expected to close in the fourth quarter of 2021 or first quarter of 2022, subject to regulatory and stockholder approvals, and other customary closing conditions. Bridgetown 2 Holdings is formed by Pacific Century Group and Thiel Capital.