The proposal passed Tuesday (March 15) at a special shareholder meeting of Bridgetown 2, the special purpose acquisition company (Spac) backed by billionaires Richard Li and Peter Thiel.
The combined entity will start trading March 18 on the New York Stock Exchange under the ticker PGRU, the company said in a regulatory filing.
PropertyGuru, led by chief executive Hari Krishnan, is attempting to list at a challenging time for Spacs. After a flurry of listings last year, the market has now been hit by diminishing investor interest, a crackdown by the US Securities and Exchange Commission and falling stock prices.
The difficult conditions echo past challenges for PropertyGuru. Back in 2019, it scrapped plans for an initial public offering in Australia amid a rocky market and valuation concerns.
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