PropertyGuru Pte. Ltd, today completed its previously announced business combination with Bridgetown 2 Holdings Limited, a special purpose acquisition company formed by Pacific Century Group and Thiel Capital LLC. The business combination was approved by Bridgetown 2 stockholders in an Extraordinary General Meeting of Company Shareholders held on March 15.
PropertyGuru Group Limited’s ordinary shares are expected to begin trading on the New York Stock Exchange on March 18 under the ticker symbol “PGRU”.
“We are thrilled to have successfully completed our business combination with Bridgetown 2, which provides additional capital to pursue organic and strategic growth, and will accelerate our ability to access capital markets in pursuit of delivering world-class solutions for our customers,” said Hari V. Krishnan, CEO and Managing Director, PropertyGuru Group. “Over the past 15 years PropertyGuru has helped shape the PropTech industry in Southeast Asia and introduced many first solutions for property seekers, agents, and developers that enabled digitalization of the property industry. As evidenced by the 23% increase in our 2021 revenue – we are entering our next post-Covid phase of growth with significant momentum.
“As we look ahead, we will continue to invest in technology and expand our services and offerings to build on our leading positions in Singapore, Vietnam, Malaysia and Thailand. Southeast Asia’s real estate market is beginning to recover from the pandemic and as the region’s increasingly affluent and digitally enabled population moves to urban centers, PropertyGuru is well-positioned to benefit from these long-term trends.”
“PropertyGuru is digitally transforming a traditional real estate market in Southeast Asia to create a trusted and transparent online property marketplace,” said Matt Danzeisen, Chairman, Bridgetown 2. “We believe PropertyGuru is just scratching the surface in the world’s most dynamic and fastest-growing region, and we are excited to partner with Hari and his talented team to create lasting value for our shareholders, employees, customers and partners.”
