PropertyGuru, certainly one of Southeast Asia’s leading real estate technology firms, today announced that it has filed a prospectus with the Australian Securities and Investments Commission for an initial public offering that would potentially raise A$363 million ($257 million).
According to KrAsiaFounded in 2007, PropertyGuru operates digital real estate marketplaces in five Southeast Asian countries, namely Singapore, Vietnam, Malaysia, Thailand and Indonesia.
Various agencies announced their intention to list the corporate on the Australian stock exchange for the primary time in early September. In 2018 he received Series D financing of USD 145 million from the American private equity firm KKR. The company claimed so profitable and positive money flow on the time.
In 2015 raised $129 million from three investors: TPG from the USA, Square Peg Capital from Australia and the Indonesian media company Emtek Group.
PropertyGuru claims to serve roughly 23 million monthly users and has a 60% consumer market share across its five operating markets in Southeast Asia.
CEO Oliver Lim said in a press statement that housing demand in PropertyGuru’s markets is driven by strong population growth, urbanization, smartphone penetration and rising levels of affluence, and that such trends will proceed to shift real estate promoting from print and other offline channels to online.
As reported Bloomberg, proceeds from the offering might be used to implement the corporate’s development strategy, including expansion into mortgage financing services via the net mortgage market.
Over the years, PropertyGuru has acquired lots of the leading property listing sites in its Southeast Asian markets, including DDProperty (Thailand) in 2011, RumahDijual (Indonesia) in 2015 and Batdongsan.com.vn (Vietnam) in 2018 r.
Its essential regional competitors are iProperty (which is already listed on the ASX) and 99.co.
