Brief: Propertyguru, Southeast Asia’S Leading Digital Property Marketplace Group, Plans To Go Public In Partnership With Bridgetown 2

PropertyGuru

23/07/2021 19:40

July 23 (Reuters) - Bridgetown 2 Holdings Ltd  BTNB.O :
    * PROPERTYGURU, SOUTHEAST ASIA’S LEADING DIGITAL PROPERTY
MARKETPLACE GROUP, PLANS TO GO PUBLIC IN PARTNERSHIP WITH
BRIDGETOWN 2
    * BRIDGETOWN 2 HOLDINGS -      PROPERTYGURU’S SHAREHOLDERS,
INCLUDING KKR, TPG CAPITAL AND REA GROUP, WILL RETAIN OVER 70%
OWNERSHIP OF THE LISTED COMPANY
    * BRIDGETOWN 2 HOLDINGS LTD - UPON CLOSING, COMBINED CO IS
EXPECTED TO BEGIN TRADING ON THE NEW YORK STOCK EXCHANGE
    * BRIDGETOWN 2 HOLDINGS - DEAL INCLUDES FULLY COMMITTED
US$100
MILLION PIPE WITH PARTICIPATION FROM BAILLIE GIFFORD, NAYA, REA
GROUP, AKARIS GLOBAL PARTNERS
    * BRIDGETOWN 2 HOLDINGS - PROPERTYGURU’S MANAGEMENT TEAM,
LED BY
CEO HARI V. KRISHNAN AND CFO JOE DISCHE WILL CONTINUE TO LEAD
THE PUBLIC COMPANY
    * BRIDGETOWN 2 HOLDINGS LTD - REA GROUP HAS ALSO COMMITTED
TO AN
ADDITIONAL US$32 MILLION INVESTMENT
    * BRIDGETOWN 2 HOLDINGS LTD - KKR, TPG GROUP AND REA GROUP
WILL
ROLL 100% OF THEIR EQUITY INTO THE COMBINED COMPANY
    * BRIDGETOWN 2 HOLDINGS - TRANSACTION IS EXPECTED TO DELIVER
UP TO
US$431 MILLION OF GROSS PROCEEDS
    * BRIDGETOWN 2 HOLDINGS -      TRANSACTION VALUES
PROPERTYGURU AT
ENTERPRISE VALUE OF ABOUT US$1.35 BILLION & EQUITY VALUE OF
ABOUT US$1.78 BILLION


Further company coverage:  BTNB.O 

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