, Singapore

PropertyGuru withdraws Australian IPO

The company stressed that it is not seeking new funds for business operations.

Online property portal PropertyGuru has cancelled its proposed initial public offering (IPO) on the Australian Securities Exchange (ASX), according to a press release.

PropertyGuru board cited the uncertainty in the current IPO market as the reason despite strong investor support.

The report added that the company is not looking for new funds to be raised for its business operations, highlighting that both major stockholders TPG and KKR were not selling any shares at IPO and had entered voluntary escrow arrangements until February 2021.

Photo courtesy of PropertyGuru.com.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.