PropertyGuru one of Southeast Asian’s largest real estate platform is planning to launch on the ASX this year with a $400 million IPO sources are told.
The real estate portal operates in Singapore, Vietnam, Thailand, Malaysia and Indonesia and is backed by big investors including an Indonesian media group Emtek venture capital firm Square Peg Capital and KKR who invested USD145 million last year.
As reported on Reuters on September 10th , PropertyGuru said on Tuesday it appointed two Australian-based directors to its board and named a new chairman.
CEO Hari Krishnan said in the statement.
“Over the last 12 years, we have matured as a business with both the scale and scope of our operations, so that in the last three years we delivered high growth revenue and in 2018 achieved profitability in this dynamic region of the world,”
An external spokesman of PropertyGuru said:
“We are considering a number of funding and strategic options but no decision has been made at this time.”
PropertyGuru has appointed UBS and Credit Suisse as joint lead managers for the IPO.