The REA Group-backed real estate marketplace is set to carry out a reverse takeover at a $1.35bn valuation almost two years after it withdrew its attempt to float in Australia.
PropertyGuru, the Singapore-based property marketplace backed by digital media and advertising group REA Group, has agreed to a reverse merger with special purpose acquisition company Bridgetown 2 Holdings.
The merged business will be valued at $1.35bn after the transaction and will take Bridgetown 2’s listing on the New York Stock Exchange, acquired when it floated in a $200m initial public offering in December 2020.
PropertyGuru’s existing shareholders will keep more than 70% of the combined entity’s shares. The deal…
