GLF - Gemlife Communities Group

[Dona Ferentes]

Listing date	3 July 2025 12:00 PM AEST #
Contact details	https://www.gemlife.com.au/ Ph: 1800 317 393
Principal Activities	Developing, building, owning and operating a portfolio of land lease community assets
Issue Price	AUD 4.16
Issue Type	Fully Paid Ordinary/Units Stapled Securities
Security code	GLF
Capital to be Raised	$750,000,000
Expected offer close date	25 June 2025
Underwriter	J.P. Morgan Securities Australia Limited, Morgan Stanley Australia Securities Limited (Joint Lead Managers, Underwriters), Morgans Corporate Limited, Ord Minnett Limited (Joint Lead Managers), Wilsons Corporate Finance Limited (Co-Lead Manager)

 

[Dona Ferentes]

GemLife, the owner of 32 communities, has been shopped as Australia’s fourth-largest land lease community operator. The $1.9 billion enterprise valuation represents 15.6 times the pro forma earnings before interest, taxes, depreciation, and amortisation forecast for the 2026 financial year and is a small discount to listed rival Ingenia Communities.

GemLife makes money from home sales as well as ongoing rental for the underlying land. It has forecast $313.7 million revenue and $123.3 million pro forma EBITDA for the 2026 financial year.

The CEO said that GemLife had a large advantage over many rivals as it was a fully integrated platform and built its own stock. “We are able to control quality, we’re able to control our finances. We’re essentially not beholden to third party contractors or consultants,” he said.

He said this allowed the company to do more with its dollars than its listed and unlisted peers because of the fact it had its own building license and internal units. He said this made the company a unique proposition that was yet to be seen in the seniors living space on the listed market.

 

[Dona Ferentes]

IPO'ed today... Always above the $3.16 raise price and a modest stag