PropertyGuru Shareholders Approve Privatisation Offer

October 10, 2024
Share this Post: 

PropertyGuru Group have overwhelmingly voted in favour of a privatization merger with a 97% majority.

According to a press release circulated yesterday, the $1.1 billion privatisation merger by private equity firm EQT will close in Q4 2024 or Q1 2025.

PropertyGuru has only been a public company for two years, but continued losses and a lack of progress outside its native Singapore sent the rumour mill into overdrive earlier this year.

Now it appears Swedish PE firm EQT, itself publicly listed on the New York Stock Exchange, is ready to flex its muscles and make PropertyGuru profitable without the pressure of quarterly updates to the market.

October 10, 2024
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Gumtree 1
Gumtree UK Quietly Sold to Chinese Owners of Classifieds Giant 58.com

O3 Industries and Novum Capital have sold their stake in Gumtree.com Ltd to Asian private equity firm Ocean Link and...

Read More
Fdv Results 1
Revenue Up 3%, EBITDA Down at Frontier Digital Ventures as Tough Conditions Bite in Q4

The Malaysia-based marketplace operator Frontier Digital Ventures has revealed that it saw 3% revenue growth in 2024 while EBITDA shrunk...

Read More
Hemnet Growth 2
Hemnet Q4 and FY 2024: ARPL Jumps 42% as Operating Profit Hits $57 Million

Swedish real estate portal operator Hemnet has released its interim report for the final quarter of 2024, boasting typically strong...

Read More
Product Update 2025Jan31 3
Product and Services Roundup: Housing.com, Dubizzle, Bayut, Jitty, OneDome, Immobiliare.it, Rocket

We'll start this week's roundup in Asia, where REA India is investing heavily in AI and virtual staging...   Asia:...

Read More

Editor's Pick