Singapore’s PropertyGuru cancelled $242 million IPO — a response to market uncertainty

The board’s decided that the wavering IPO market does not worth the new funds.

Syamil Faisal

23 Oct, 2019

Singapore’s PropertyGuru cancelled $242 million IPO — a response to market uncertainty | BEAMSTART News

- From our Sponsors -

Despite the strong support from the investors, the Singapore-based PropertyGuru withdrawn just two days before the IPO listing on the Australian Securities Exchange (ASX).

The abrupt decision was made by the board's consensus that market sentiments outweigh the growth potential that the $242 million IPO would bring for the company.

The board assured that its business is going in a positive direction — new funds are not obligatory to sustain the operation.

PropertyGuru’s major shareholders; TPG Capital and KKR, made escrow arrangements whereby the company’s shares will be held by the third party until February 2021 — an alternative funding solution after the IPO plug-off.

“The Board of PropertyGuru has decided to withdraw the IPO due to uncertainty in the current IPO market,” the company said in a statement.

- From our Sponsors -

Latest Jobs

Account Manager (Hybrid)


New York, NY, United States

Full Time

Salary Undisclosed

Customer Service Representative

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3000 — MYR 4000 monthly



SIngapore, Singapore

Contract / Freelance

SGD 9 — SGD 11 monthly

English Technical/Legal Writer

Pacston Technology Group

Kuala Lumpur, Malaysia

Full Time

USD 20000 — USD 60000 monthly

[URGENTLY NEEDED] Portuguese to English Proofreader

Elite Asia


Contract / Freelance

Salary Undisclosed

Junior Accounts Cum Admin Assistant


Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

Head of Developers


Manila, Philippines

Full Time

USD 2000 monthly

Financial Officer

PIVOT Fintech Pte Ltd

60, #11-25 Paya Lebar Rd, Paya, Singapore

Full Time

USD 5000 — USD 8000 monthly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).