KKR - Peter Thiel-backed SPAC Bridgetown 2 confirms deal to take Singapore's PropertyGuru public

anyaberkut/iStock via Getty Images Bridgetown 2 Holdings (BTNB) , a SPAC backed by Peter Thiel and Richard Li,  confirmed a deal to take Singapore online real estate firm PropertyGuru public. BTNB gained 0.5%. The transaction is expected to generate $431M in gross proceeds and values PropertyGuru at an enterprise value of $1.35B and equity value of about $1.78B, according to a statement. The deal includes a $100M PIPE with investors including Baillie Gifford, Naya, REA Group and Akaris Global Partners. PropertyGuru’s shareholders, including KKR, TPG Capital and REA Group, will retain over 70% ownership of the listed company.  The deal is expected to close in Q4. Founded in 2007, PropertyGuru says it's  Southeast Asia’s No. 1 digital property marketplace with leading positions in Singapore, Vietnam, Malaysia and Thailand. PropertyGuru in September said it  received an additional investment of about $220M in recent funding rounds by leading global investment firms TPG and KKR. Bloomberg in March reported that PropertyGuru  was considering a U.S. listing through a

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Peter Thiel-backed SPAC Bridgetown 2 confirms deal to take Singapore's PropertyGuru public