(Reuters) - Australian resorts business GemLife is considering listing on the Australian stock exchange, co-owner Thakral Corporation said on Friday. Thakral said there is no assurance that the
GemLife Explores Potential ASX Listing, Says Co-Owner Thakral
(Reuters) - Australian resorts business GemLife is considering listing on the Australian stock exchange, co-owner Thakral Corporation said on Friday.
Thakral said there is no assurance that the proposed initial public offering (IPO) will proceed, and that the size and timeline of the IPO are not disclosed.
GemLife is owned by Australia's affluent Puljich family’s Living Gems and Singapore's Thakral Corporation, focused on developing and managing over-50s lifestyle resorts across Australia.
The Singapore-listed investment firm Thakral, which owns a 31.7% stake in GemLife, said the company is in advanced discussions with potential underwriters for the proposed IPO.
The Australian had reported on Thursday that GemLife is planning an IPO on the exchange on July 4 valued between A$700 million ($454.51 million) and A$750 million with a market capitalization of A$1.57 billion.
In April, Thakral had first disclosed GemLife's plans to pursue a possible IPO.
($1 = 1.5401 Australian dollars)
(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Sahal Muhammed)
