Thakral associate GemLife plans IPO on the Australian bourse

The IPO will unlock GemLife's value for its stakeholders.

Thakral’s 31.7%-owned Australian associate, GemLife, is considering listing stapled securities related to the GemLife Communities on the Australian bourse.

GemLife Communities refers to GemLife's luxury living resorts for the over-50s.

The initial public offering (IPO) is seen as a potential channel to unlock the value of GemLife for its stakeholders.

In a bourse filing, Thakral said that GemLife is in advanced discussions with potential underwriters for the proposed IPO.

The stapled securities offered in the proposed IPO comprise one fully paid ordinary share in GemLife group and one or more fully paid units in one or more registered schemes by the holding company and GemLife Communities.

Shareholders and potential investors are advised that there is no assurance or certainty that any agreement for the underwriting of the proposed IPO will be underwritten or completed.

A prospectus and disclosure document for the proposal will be issued to eligible investors when the offer of stapled securities by GemLife Communities is made.

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