Is PropertyGuru’s delisting good for South-east Asia’s tech scene?

PropertyGuru’s stint as a listed company might soon be coming to an end.

Last week, Swedish private equity (PE) firm EQT offered to acquire the South-east Asian property listings portal for US$1.1 billion.

Upon completion of the deal, which is expected to close in Q4 2024 or Q1 2025 and is subject to approval by regulators and PropertyGuru shareholders, the firm will be delisted from the New York Stock Exchange (NYSE). It will return to being a private company, having spent around three years on the public markets.