Real Estate

PropertyGuru SPAC merger with Richard Li-backed Bridgetown 2 Holdings

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Hari Krishnan, chief executive officer of Singapore-based start-up PropertyGuru.

Nicky Loh | Bloomberg | Getty Images

Southeast Asia’s online real estate company PropertyGuru plans to use proceeds from its public market debut next year for mergers and acquisitions, its CEO Hari V. Krishnan told CNBC.

The start-up — which operates in Singapore, Malaysia, Thailand, Vietnam and Indonesia — announced plans in July to go public through a SPAC merger with Bridgetown 2 Holdings, a blank-check company backed by billionaires Richard Li and Peter Thiel.

SPACs — or special purpose acquisition companies — raise capital from public markets and use that cash to merge with a private company, with…



Source cnbc.com

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