GemLife, which Thakral owns a 31.7% effective interest in, raised A$750 million in its IPO, Australia’s biggest listing this year. The post money valuation of the IPO is A$1.58 billion, fully underwritten by J.P. Morgan and Morgan Stanley.
Thakral Corporation’s Australian investee company GemLife has debuted on the Australian Stock Exchange (ASX) with its debut price increasing 4.1% to A$4.33 ($3.62) on the first day of trading.
The lifestyle and resorts company’s trading volume for its first day came in at 9.12 million, with a market capitalization of A$1.65 billion.
