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PropertyGuru Group Limited (PGRU) is Asia’s leading online property company, revolutionizing the real estate market across Singapore, Malaysia, Thailand, Indonesia, and Vietnam. Established in 2007 with the launch of PropertyGuru.com.sg, the company made property search transparent and accessible online, significantly transforming the Singapore property market. Today, PropertyGuru serves over 25 million property seekers every month, offering a vast selection of more than 2 million homes.
The company empowers users with in-depth market insights and solutions, enabling confident property decisions. PropertyGuru has grown into a high-growth technology company, boasting a robust portfolio of No.1 property portals, award-winning mobile apps, and innovative tools like the developer sales enablement platform, ePropertyTrack.
In addition to their core digital property marketplaces matching buyers and tenants with sellers and landlords, PropertyGuru offers digital marketing services for property agents and developers, SaaS-based sales process automation, a digital mortgage marketplace and brokerage, and property data consultancy services for banks, valuers, and developers. Their operations are segmented into four primary marketplaces: Singapore, Vietnam, Malaysia, Other Asia, as well as Fintech and data services.
With a strong foothold in the property technology sector, PropertyGuru continues to lead the market with its forward-thinking approach, hosting industry-leading awards, events, and publications across eleven countries in Asia, cementing its position as a trailblazer in the real estate industry.
PropertyGuru Group (NYSE: PGRU) has been acquired by BPEA Private Equity Fund VIII (EQT) for USD 6.70 per share, valuing the company at approximately USD 1.1 billion. As a result, PropertyGuru has been delisted from the NYSE and will operate as a private company. Through January 12, 2025, outstanding warrants will be exchangeable for USD 0.7526 per warrant.
PropertyGuru, Southeast Asia's leading PropTech platform, connects over 31 million property seekers with more than 50,000 agents across Singapore, Malaysia, Thailand, and Vietnam monthly. EQT's investment aims to accelerate technology development, expand market reach, and improve operational efficiency, leveraging its experience with digital marketplace leaders like Idealista and Casa.it.
PropertyGuru Group (NYSE: PGRU) announced that shareholders approved the previously announced Merger Agreement at an extraordinary general meeting. The agreement involves PropertyGuru, Hedychium Group , and Hedychium 96.8% of the total votes cast at the EGM were in favor of the merger and related transactions. The meeting saw participation from holders of 149,877,164 ordinary shares, representing about 91.2% of total outstanding votes.
Upon completion, expected in Q4 2024 or Q1 2025, PropertyGuru will become a private company and delist from the New York Stock Exchange. The transaction is subject to customary closing conditions and regulatory approvals, but not to financing conditions. PropertyGuru will remain headquartered in Singapore after the merger.
PropertyGuru Group (NYSE: PGRU) reported Q2 2024 financial results with revenue growing 10% year-over-year to S$41 million. The company's Adjusted EBITDA increased 48% to S$7 million, with an improved margin of 17%. Key highlights include:
- Singapore Marketplaces revenue up 16% to S$25 million
- Malaysia Marketplaces revenue increased 12% to S$7 million
- Vietnam Marketplaces revenue grew 4% to S$5 million
- Fintech & Data services revenue up 3% to S$1.6 million
The company maintained a strong cash position with S$309 million in cash and cash equivalents at quarter-end. Despite growth, PropertyGuru reported a net loss of S$16 million, compared to a S$6 million loss in Q2 2023.
PropertyGuru Group (NYSE: PGRU), Southeast Asia's leading property technology company, has canceled its second quarter financial results conference call originally scheduled for September 4, 2024. This decision follows the August 16, 2024 announcement of a definitive agreement for the company to be acquired by EQT Private Capital Asia. The acquisition is subject to shareholder approval and other customary closing conditions.
Despite the cancellation of the conference call, PropertyGuru still plans to release its second quarter earnings press release on September 4, 2024, which will be available on the company's website at www.PropertyGuruGroup.com.
PropertyGuru Group (NYSE: PGRU), Southeast Asia's leading PropTech company, has announced a definitive merger agreement with EQT Private Capital Asia. The all-cash transaction values PropertyGuru at approximately USD 1.1 billion, with shareholders set to receive USD 6.70 per share. This represents a 52% premium to PropertyGuru's closing share price on May 21, 2024.
The merger, unanimously approved by PropertyGuru's Board of Directors, is expected to close in Q4 2024 or Q1 2025. Upon completion, PropertyGuru will become a private company and delist from the New York Stock Exchange. Major shareholders TPG and KKR, holding a combined 56% ownership, have entered into voting agreements supporting the merger.
PropertyGuru Group (NYSE: PGRU), Southeast Asia's leading property technology company, has announced its upcoming second quarter 2024 financial results report. The earnings call is scheduled for Wednesday, September 4, 2024, at 7:30am Eastern Standard Time (EST) / 7:30pm Singapore Standard Time (SGT). Management will host a conference call and webcast to discuss the company's financial results and outlook following the release of earnings materials. Interested parties can register for the webinar through the provided link. An archived webcast of the conference call will be available in the 'Quarterly Results' section of PropertyGuru's Investors website after the event.
PropertyGuru (NYSE: PGRU) reported a 12% year-over-year revenue increase to S$37 million in Q1 2024. Adjusted EBITDA rose to S$4 million from S$0.2 million in Q1 2023, with a net loss of S$6 million, an improvement from a S$10 million loss in the same period last year. Singapore saw a 25% increase in revenue, while Malaysia and Vietnam remained flat. The company maintained its full-year revenue outlook of S$165-180 million and Adjusted EBITDA of S$22-26 million. Key initiatives included the adoption of AI features by agents in Singapore and the introduction of a Professional Agent Verification process in Vietnam.
PropertyGuru Group , a leading property technology company in Southeast Asia, will report its first-quarter 2024 financial results on May 21, 2024. The Company will host a conference call and webcast to discuss the financial results and outlook.
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