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PropertyGuru sank deeper into the red in the second quarter ended June 30 with a net loss of $16.1 million, widening from $6.5 million recorded in the previous corresponding period.
However, the group’s revenue for the second quarter rose 10.3 per cent to $40.7 million, from $36.9 million in the year-ago period. This came on the back of higher contributions from its marketplaces segment buoyed by improving conditions in Malaysia, Vietnam and Singapore, said the group.
The revenue of the marketplaces segment rose 10.6 per cent on the year to $39.1 million, from $35.4 million previously.
Its Singapore marketplaces registered the highest increase in revenue, up 16 per cent to $25 million from $21.5 million last year.
PropertyGuru said in August that it will be acquired by investment firm EQT Private Capital Asia for US$1.1 billion (S$1.4 billion) and taken private.
Under the all-cash deal, ordinary shares of the company will be cancelled and converted automatically into the right to receive US$6.70 per share – a 7 per cent premium to the group’s last closing price at US$6.26 on Aug 15 before the news was released.
The transaction is expected to be completed in the last quarter of 2024 or the first quarter of 2025, subject to closing conditions including shareholder and regulatory approvals.
The Straits Times had reported on Aug 28 that Resorts World Sentosa (RWS) chief casino officer Andrew MacDonald and another RWS executive, Ms Louise Ng, were each issued persona non grata notices prohibiting
