PropertyGuru starts trading on NYSE
It makes its debut at US$8.61 but falls US$0.82 or 9.5% to a low of US$7.79 within an hour
Add BT as a preferred source
Singapore
PROPERTY listing platform PropertyGuru debuted on the New York Stock Exchange (NYSE) at US$8.61 on Friday (Mar 18), and then fell US$0.82 or 9.5 per cent to a low of US$7.79 within an hour after trading began.
The listing, which counts as another Singapore unicorn delivering an exit to investors after similar moves by Grab and Sea, follows an aborted listing attempt on the Australian Securities Exchange in 2019. PropertyGuru was founded 15 years ago by Steve Mulhuish and Jani Rautiainen. It listed via a business combination with special-purpose acquisition company (SPAC) Bridgetown 2, which is backed by billionaires Peter Thiel and Richard Li.
TRENDING NOW
Abandoned ‘Titanic’, failing ‘ancient towns’: Why China’s tourism boom leaves white elephants behind
Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
US-Iran peace deal: S-Reits, aviation stocks, developers on investors’ radar as potential winners
