Dear reader,
The acquisition of PropertyGuru Group by EQT Private Capital Asia for US$1.1 billion marks a significant milestone in Southeast Asia’s proptech landscape.
With the deal unanimously approved by PropertyGuru’s board and backed by major shareholders TPG and Epsilon Asia, it signals confidence in its growth potential despite its lack of profitability.
The 10x revenue multiple reflects strong market validation, particularly in a region where such valuations are rare.
EQT’s track record in real estate, exemplified by its previous investment in Idealista, positions it well to drive further growth and value creation for PropertyGuru. The potential for a 3x return within five years indicates a positive outlook for the proptech sector in Southeast Asia, which is increasingly attracting global investment.
However, Halper Sadeh’s ongoing investigation raises concerns about whether the agreed sale price adequately reflects the company’s value. The law firm’s scrutiny could lead to demands for higher consideration or additional disclosures, ensuring that shareholders are treated fairly.
As the deal progresses, these legal challenges could impact its finalization and the future trajectory of PropertyGuru under EQT’s ownership.
Sainul,
Editor.
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NEWS & VIEWS
EQT Private Capital Asia to acquire PropertyGuru for US$1.1B
Meanwhile, a US-based investor rights law firm said it is investigating whether the sale of PropertyGuru to EQT for US$6.70 per share is fair to its shareholders.
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FEATURES & INTERVIEWS
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THOUGHT LEADERSHIP
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As Malaysian businesses navigate the complexities of an increasingly advanced landscape, the importance of cybersecurity cannot be overstated.
FROM THE ARCHIVES
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There is talent shortage in the e-motorcycle space in SEA: ION Mobility CEO
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