- ~US$254 million raised in public listing via completion of
business combination with Bridgetown 2 with greater access to
global financial markets to help support continued growth
- Began trading today on the NYSE under the ticker “PGRU”
- Dual celebrations in New York and Singapore to mark the
milestone, as the Company opens the door to increased opportunities
across Southeast Asia’s fast-growing property market
PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or “the
Company”), Southeast Asia’s leading1, property technology
(“PropTech”) company, commenced trading today on the NYSE under the
ticker “PGRU”. To mark its public debut, PropertyGuru held
concurrent events in New York and Singapore to celebrate the
milestone with the Company’s ‘gurus’ and partners from its
Southeast Asian markets.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220318005356/en/
Hari V. Krishnan, Chief Executive Officer
and Managing Director rings the ceremonial bell marking
PropertyGuru’s debut as a public company on the NYSE (Photo:
Business Wire)
“Our successful listing on the NYSE will allow us to open more
doors for the millions of residents across Southeast Asia looking
for that perfect home or property investment,” said Hari
V. Krishnan, Chief Executive Officer and Managing Director,
PropertyGuru Group. “We have a tremendous opportunity ahead of
us as more affluent and digitally-enabled populations enter the
real estate market. As a public company, we will also enable global
investors to access this high-growth market.”
For additional video and picture of the celebrations, please
visit:
https://www.linkedin.com/company/propertyguru/posts/?feedView=all;
https://twitter.com/sgpropertyguru
About PropertyGuru Group
PropertyGuru Group is Southeast Asia’s leading1 property
technology company, and the preferred destination for over 52
million property seekers to find their dream home, every month.
PropertyGuru and its group companies empower property seekers with
more than 3.3 million real estate listings, in-depth insights, and
solutions that enable them to make confident property decisions
across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.
PropertyGuru.com.sg was launched in 2007 and has helped to drive
the Singapore property market online and has made property search
transparent for the property seeker. Over the decade, the Group has
grown into a high-growth technology company with a robust portfolio
of leading property portals across its core markets company;
award-winning mobile apps; a high quality developer sales
enablement platform, PropertyGuru FastKey
(https://www.propertygurugroup.com/fastkey/); mortgage marketplace
PropertyGuru Finance
(https://www.propertyguru.com.sg/mortgage/home-loan); and a host of
other property offerings including Awards
(https://www.asiapropertyawards.com/en/), events and publications
across Asia.
For more information, please visit:
https://www.propertygurugroup.com/;
https://www.linkedin.com/company/propertyguru/
Key Performance Metrics
Engagement Market Share is the average monthly engagement for
websites owned by PropertyGuru as compared to average monthly
engagement for a basket of peers calculated over the relevant
period. Engagement is calculated as the number of visits to a
website during a period multiplied by the average amount of time
spent on that website for the same period, in each case based on
data from SimilarWeb.
Number of real estate listings is calculated as the number of
listings created during the month for Vietnam and total listings at
the end of the previous month for other markets.
Forward-Looking Statements
Certain statements in this press release may constitute
“forward-looking” statements and information, within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934, and the safe harbor provisions of
the U.S. Private Securities Litigation Reform Act of 1995 that
relate to PropertyGuru’s current expectations and views of future
events. In some cases, these forward-looking statements can be
identified by words or phrases such as “outlook,” “believes,”
“expects,” “potential,” “continues,” “may,” “will,” “should,”
“could,” “seeks,” “predicts,” “intends,” “trends,” “plans,”
“estimates,” “anticipates” or the negative version of these words
or other comparable words.
These forward-looking statements are subject to risks,
uncertainties and assumptions, some of which are beyond our
control. In addition, these forward-looking statements, including
statements regarding our future results of operations and financial
position, planned products and services, business strategy and
plans, objectives of management for future operations, market size
and growth opportunities, competitive position and technological
and market trends, reflect our current views with respect to future
events and are not a guarantee of future performance. Actual
outcomes may differ materially from the information contained in
the forward-looking statements as a result of a number of factors,
including, without limitation, the following: changes in domestic
and foreign business, market, financial, political and legal
conditions; the ability of PropertyGuru to grow and manage growth
profitably and retain its key employees including its chief
executive officer and executive team; failure to realize the
anticipated benefits of PropertyGuru’s completed business
combination; risk relating to the uncertainty of the projected
financial information with respect to PropertyGuru; PropertyGuru’s
ability to attract new and retain existing customers in a cost
effective manner; competitive pressures in and any disruption to
the industry in which PropertyGuru and its subsidiaries (the
“Group”) operates; the Group’s ability to achieve profitability
despite a history of losses; the Group’s ability to implement its
growth strategies and manage its growth; customers of the Group
continuing to make valuable contributions to its platform, the
Group’s ability to meet consumer expectations; the success of the
Group’s new product or service offerings; the Group’s ability to
produce accurate forecasts of its operating and financial results;
the Group’s ability to attract traffic to its websites; the Group’s
ability to assess property values accurately; the Group’s internal
controls; fluctuations in foreign currency exchange rates; the
Group’s ability to raise capital; media coverage of the Group; the
Group’s ability to obtain insurance coverage; changes in the
regulatory environments (such as anti-trust laws, foreign ownership
restrictions and tax regimes) of the countries in which the Group
operates, general economic conditions in the countries in which the
Group operates, the Group’s ability to attract and retain
management and skilled employees, the impact of the COVID-19
pandemic on the business of the Group, the success of the Group’s
strategic investments and acquisitions, changes in the Group’s
relationship with its current customers, suppliers and service
providers, disruptions to information technology systems and
networks, the Group’s ability to grow and protect its brand and the
Group’s reputation, the Group’s ability to protect its intellectual
property; changes in regulation and other contingencies; the
Group’s ability to achieve tax efficiencies of its corporate
structure and intercompany arrangements; potential and future
litigation that the Group may be involved in; unanticipated losses,
write-downs or write-offs, restructuring and impairment or other
charges, taxes or other liabilities that may be incurred or
required subsequent to, or in connection with, the completed
business combination and technological advancements in the Group’s
industry, as well as and other risk factors set forth in the
section titled “Risk Factors” in our Prospectus filed with the
Securities and Exchange Commission on February 15, 2022, and other
documents filed with or furnished to the SEC.
These statements reflect management’s current expectations
regarding future events and operating performance and speak only as
of the date of this press release. You should not put undue
reliance on any forward-looking statements. Although we believe
that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee that future results, levels of
activity, performance and events and circumstances reflected in the
forward-looking statements will be achieved or will occur. Except
as required by applicable law, we undertake no obligation to update
or revise publicly any forward-looking statements, whether as a
result of new information, future events or otherwise, after the
date on which the statements are made or to reflect the occurrence
of unanticipated events. The inclusion of any statement in this
document does not constitute an admission by PropertyGuru or any
other person that the events or circumstances described in such
statement are material.
Industry and Market Data
This document contains information, estimates and other
statistical data derived from third party sources and/or industry
or general publications. Such information involves a number of
assumptions and limitations, and you are cautioned not to place
undue weight on such estimates. PropertyGuru, PubCo and Bridgetown
2 have not independently verified such third-party information, and
make no representation as to the accuracy of such third-party
information.
_________________________ 1 In terms of Engagement Market Share
based on SimilarWeb data.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220318005356/en/
Media PropertyGuru
Group Sheena Chopra +65 9247 5651
sheena@propertyguru.com.sg
Sard Verbinnen & Co Ron Low and Jay Qin – Asia Liz
Zale and Chloe Clifford – U.S. PropertyGuru-SVC@sardverb.com
Investor PropertyGuru
Group Investor Relations investors@propertyguru.com
The Blueshirt Group Gary Dvorchak
propertyguru@blueshirtgroup.com
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