Here’s what private equity may be getting right
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A RECENT offer by private equity (PE) group EQT for property listings website operator PropertyGuru Group might have some wondering just what EQT sees in the loss-making company.
Has the public market undervalued the potential PropertyGuru holds? Perhaps; but it’s also possible that potential may only be accessible through PE ownership.
PropertyGuru listed on the New York Stock Exchange in 2022 via a merger with special purpose acquisition company Bridgetown 2 Holdings that gave the former an equity value of US$1.78 billion.
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