Link: https://links.sgx.com/1.0.0/corporate-announcements/193ADCTAXPXQG439/a3f6b35e176af4f939d0c0a5d4b695fb2b082168d3ee10b142233e98d26397b9

Summary:

• GemLife Communities Group, a leading Australian over-50s lifestyle resort operator, in which Thakral Corporation holds a 16.8% stake, successfully listed on the ASX on 3 July 2025.

• GemLife’s securities rose 4.1% to A$4.33 on debut, giving it a market cap of A$1.65 billion with a trading volume of 9.12 million.

• The IPO raised A$750 million from 180.28 million stapled securities priced at A$4.16, marking it as Australia’s largest IPO this year.

• Proceeds will fund the acquisition of the Aliria Group portfolio, expanding GemLife’s pipeline from ~6,500 to ~9,836 homes, reduce debt, strengthen its balance sheet and provide working capital.

• Thakral demonstrated continued confidence by subscribing for an additional 600,962 securities, maintaining a 16.8% effective interest post-IPO.

• Thakral’s CEO Mr. Bethal noted that GemLife’s listing realises a strategic vision, reflecting investor confidence in GemLife’s leadership and long-term potential.

• Thakral continues to support GemLife’s growth as it expands its footprint across Australia.