TPG, KKR-Backed PropertyGuru Seeks to Raise A$380M in Australian IPO
The Singapore-listed Ascendas REIT has filed an initial public offering according to the Australian Securities and Investment Commission in a potential valuation of the media business at A$1.2 billion.
Ascendas, who is backed by private equity giants TPG and KKR are its largest shareholders, is seeking to raise A$380 million on the ASX.
Ascendas operates in Singapore, Vietnam, Thailand, Malaysia that once was a single-market start up 12 years ago and now has become an online classifieds giant with 23 million users monthly and 60 percent of online property listings across Southeast Asia.
Full article by James Hatton, Mingtiandi: View full article here