Overview
- GemLife raised $750 million in its initial public offering on the Australian Securities Exchange, with shares debuting at $4.16 and closing at $4.33.
- The Puljich family will retain a 26.7% stake in the newly listed company after the share sale and asset deal.
- GemLife has agreed to acquire its founders’ Aliria portfolio of eight land-lease communities for $270.3 million as part of the IPO arrangements.
- Once the listing and Aliria acquisition conclude, GemLife will own 32 communities and develop nearly 9,900 home sites across Queensland, New South Wales, Victoria and South Australia.
- The group’s model sells prefabricated homes priced from $600,000 to $2 million and charges residents over 50 weekly land-lease fees of $230–$250 for resort-style amenities, attracting institutional investors seeking annuity-style returns.