US Markets

PropertyGuru plans up to A$400 mln Australian IPO - sources

Southeast Asian online realtor PropertyGuru Group, which counts buyout firms TPG Capital and KKR among its backers, is targeting an Australian IPO which could raise up to A$400 million ($274.2 million) this year, sources with knowledge of the deal told Reuters on Tuesday.

SINGAPORE/SYDNEY, Sept 10 (Reuters) - Southeast Asian online realtor PropertyGuru Group, which counts buyout firms TPG Capital and KKR KKR.N among its backers, is targeting an Australian IPO which could raise up to A$400 million ($274.2 million) this year, sources with knowledge of the deal told Reuters on Tuesday.

Senior officials from the Singapore-based company, which operates real estate portals in the region, will start meeting Australian investors within the next few weeks before starting their pitches to Asian and U.S. investors, two sources said.

An external spokesman of PropertyGuru said: "We are considering a number of funding and strategic options but no decision has been made at this time."

PropertyGuru has appointed UBS and Credit Suisse as joint lead managers for the IPO. Both banks declined comment.

($1 = 1.4588 Australian dollars)

(Reporting by Scott Murdoch and Anshuman Daga; Editing by Kim Coghill)

((anshuman.daga@tr.com; +65 64035676))

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