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GemLife IPO Raises $750 Million and Delivers $417 Million Windfall for Founders

Listing values retirement housing provider at $780.7 million, paving way for takeover of the Puljich family’s Aliria portfolio

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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.