Bridgetown 2 Holdings rises on report of merger talks with PropertyGuru

PropertyGuru

08/06/2021 18:24

** Shares of blank-check firm  BTNB.O  rise over 2% to
$10.29 
    ** Co is in advanced talks to take online real estate firm
PropertyGuru Pte public through a merger, Bloomberg News reports
https://bloom.bg/3gisxhp, citing people with knowledge of the
matter
    ** According to the report, deal could value the combined
company at around $2 billion 
    ** Singapore's PropertyGuru was founded in 2007 and has
operations in several countries including Vietnam, Indonesia,
Malaysia and Thailand - BBG
    ** BTNB, a special purpose acquisition company (SPAC),
raised $299 million through an IPO in January
    ** It is backed by billionaires Richard Li and Peter Thiel
    ** SPACs are shell companies that raise funds in initial
public offerings to take private companies public through a
merger at a later date
    


 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))