October 23, 2019 / 1:40 AM / 21 days ago

Private equity firms TPG, KKR cancel PropertyGuru's Australian IPO -sources

SYDNEY, Oct 23 (Reuters) - Private equity firms KKR and TPG Capital have canceled the initial public offering (IPO) of their Southeast Asia online realty company PropertyGuru, due to uncertainty in the market, two sources with knowledge of the matter told Reuters.

PropertyGuru and its brokers on Tuesday offered shares at the lower end of a A$3.70 to A$4.50 indicated range, expecting to raise up to A$380.2 million.

On Wednesday, fund managers were told the IPO will not proceed, the sources said, making it the second canceled listing for the day and the fourth this month. (Reporting by Paulina Duran in Sydney; Editing by Tom Hogue)

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