PropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel

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The deal with Bridgetown 2 Holdings, a special purpose acquisition company , is expected to fetch proceeds of US$431 million, including a private investment of US$100 million from Baillie Gifford, Naya, REA Group and Akaris Global Partners.One of Malaysia's largest asset managers, REA Group has also committed to an additional US$32 million investment, PropertyGuru said.

The company offers digital property marketplaces to match buyers and tenants with sellers and landlords, as well as digital marketing for property agents and developers.

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