Australia's GemLife finalises A$750 million IPO, term sheet shows

Virgin Australia Holdings

13/06/2025 07:33

By Scott Murdoch

SYDNEY, June 13 (Reuters) - Australia's retirement resort group GemLife stock is due to start trading on the Australian Securities Exchange (ASX) on July 3 after finalising its A$750 million ($485.85 million) initial public offering, the largest deal down under this year.

GemLife sold 380.3 million stapled securities in the IPO at A$4.16 each, valuing the company at A$1.58 billion, according to a term sheet reviewed by Reuters.

GemLife declined to comment on the IPO.

The deal is the largest IPO in Australia since DigiCo Infrastructure REIT DGT.AX raised A$2 billion in December.

GemLife's IPO eclipses the high profile Virgin Australia IPO-VIR.AX offering, which recently launched its A$685 million bookbuilding process.

About A$725 million worth of the GemLife IPO was sold to cornerstone investors and retail brokers, the term sheet showed.

($1 = 1.5437 Australian dollars)

 (Reporting by Scott Murdoch; Editing by Christian Schmollinger)

 ((Scott.Murdoch@thomsonreuters.com;))