GemLife's shares jump on ASX debut after Australia's biggest IPO of 2025
GemLife's stock climbed as much as 7.5 per cent to A$4.47 during its debut session, before easing in the afternoon.
The company sold 380.3 million stapled securities at A$4.16 each, giving it a valuation of A$1.58 billion, according to a term sheet seen by Reuters.
The deal marks the largest IPO in Australia so far in 2025, topping the recent A$685 million transaction from Virgin Australia, the country's second-largest airline.
Virgin shares have been trading about 4 per cent above their A$2.90 issue price since the debut on June 24.
GemLife operates 14 retirement communities along Australia's east coast, according to its website.
It recorded A$266.3 million in revenue and an A$81.7 million underlying net profit in the past financial year, its prospectus showed.
Initial public offerings in Australia totalled $795 million in the first half of 2025, according to LSEG data, an increase of nearly 150 per cent year-on-year.
Australia's sluggish IPO market in recent years has prompted regulators to introduce new rules aimed at fast-tracking the filing process in an effort to revive listing activity.
($1 = 1.5209 Australian dollars)
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