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Thakral’s Investee GemLife Debuts on ASX with Strong Performance

Story Highlights
  • Thakral Corporation Ltd’s investee, GemLife, debuted on ASX, boosting its securities price by 4.1%.
  • GemLife’s IPO raised A$750 million to expand its housing pipeline and strengthen finances.
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Thakral’s Investee GemLife Debuts on ASX with Strong Performance

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Thakral Corporation Ltd ( (SG:AWI) ) has provided an update.

Thakral Corporation Ltd announced that its investee company, GemLife Communities Group, has successfully debuted on the Australian Securities Exchange (ASX). GemLife’s securities saw a price increase of 4.1% to A$4.33, with a market capitalization of A$1.65 billion. The IPO raised A$750 million, marking it as Australia’s largest IPO of the year. The funds will be used to acquire the Aliria Group portfolio, expanding GemLife’s housing pipeline and strengthening its financial position.

More about Thakral Corporation Ltd

Thakral Corporation Ltd is a Singapore-based company that invests in various sectors, including lifestyle resorts in Australia. The company holds a significant stake in GemLife Communities Group, which operates over-50s lifestyle resorts in Australia.

Average Trading Volume: 205,529

Technical Sentiment Signal: Buy

Current Market Cap: S$185.4M

Learn more about AWI stock on TipRanks’ Stock Analysis page.

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