Thakral associate Gemlife launches IPO at $3.47 apiece

Thakral intends to subscribe for an additional 600,962 GemLife Stapled Securities.

Thakral Corporation’s associate, GemLife, has launched an initial public offering (IPO) on the Australian Securities Exchange at $3.47 (AUD4.16) apiece.

Gemlife aims to raise $625m (AUD750m) at an implied post-money valuation of $1.3b (AUD1.58b).

Thakral, which currently holds a 31.7% stake in GemLife, intends to subscribe for an additional 600,962 GemLife Stapled Securities, resulting in a total of 64 million.

Its effective interest in GemLife will be approximately 16.8% post-dilution.

($1=AUD1.19)

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