PropertyGuru Group Discloses Advisory Fee Oversight

PropertyGuru Group (PGRU) has released an update.

PropertyGuru Group Limited reported a clerical error in the Proxy Statement for their extraordinary general meeting scheduled on October 9, 2024. The omitted information pertained to financial advisory firm Moelis & Company’s previous and potential future involvement with entities holding stakes in PropertyGuru, with disclosed past advisory fees totaling approximately $43.1 million and potential future fees up to approximately $100.1 million, subject to transaction completions. This financial relationship highlights Moelis’ significant role and potential conflicts of interest in transactions involving the PropertyGuru Group.

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