Latest news with #Thakral
Business Times
04-07-2025
- Business
- Business Times
Thakral's GemLife debuts on Australian bourse with A$1.65 billion market cap
[SINGAPORE] Thakral Corporation's investee company in Australia, GemLife Communities Group, on Thursday (Jul 3) debuted on the Australian Securities Exchange on a conditional and deferred settlement basis. On its first day of trading, GemLife rose 4.1 per cent to A$4.33, logging a market capitalisation of A$1.65 billion (S$1.4 billion), with 9.12 million stapled securities transacted, Thakral said in a statement. GemLife's initial public offering (IPO) is Australia's largest this year – it raised A$750 million from around 180.3 million stapled securities offered at A$4.16 apiece. The lifestyle resort operator intends to use the proceeds from the IPO to support its growth, including the acquisition of the Aliria Group portfolio, which is expected to increase its pipeline from about 6,500 homes to 9,836. The funds will also be used to reduce debt, strengthen its balance sheet, and as additional working capital. Thakral subscribed to an additional 600,962 GemLife stapled securities at the IPO price, bringing its holdings to about 64 million stapled securities. It has an effective interest of 31.7 per cent in GemLife. It noted previously that its effective interest in the Australian company would be around 16.8 per cent post-dilution. Shares of Thakral, on the Singapore Exchange, ended Thursday 4.7 per cent or S$0.07 lower at S$1.43.
Business Times
04-07-2025
- Business
- Business Times
Thakral's GemLife debuts on Australian stock exchange with A$1.65 billion market cap
[SINGAPORE] Thakral Corporation's investee company in Australia, GemLife Communities Group, on Thursday (Jul 3) debuted on the Australian Securities Exchange on a conditional and deferred settlement basis. On its first day of trading, GemLife rose 4.1 per cent to A$4.33, logging a market capitalisation of A$1.65 billion (S$1.4 billion), with 9.12 million stapled securities transacted, Thakral said in a statement. GemLife's initial public offering (IPO) is Australia's largest this year – it raised A$750 million from around 180.3 million stapled securities offered at A$4.16 apiece. The lifestyle resort operator intends to use the proceeds from the IPO to support its growth, including the acquisition of the Aliria Group portfolio, which is expected to increase its pipeline from about 6,500 homes to 9,836. The funds will also be used to reduce debt, strengthen its balance sheet, and as additional working capital. Thakral subscribed to an additional 600,962 GemLife stapled securities at the IPO price, bringing its holdings to about 64 million stapled securities. It has an effective interest of 31.7 per cent in GemLife. It noted previously that its effective interest in the Australian company will be around 16.8 per cent post-dilution. Shares of Thakral, on the Singapore Exchange, ended Thursday 4.7 per cent or S$0.07 lower at S$1.43.
Economic Times
25-06-2025
- Business
- Economic Times
Bitcoin trades above $106,000; Ethereum and Altcoins see mixed moves
Bitcoin price increased beyond $106,000. This surge happened because of reduced global tensions and strong investor interest. Ethereum also saw a rise. Market analysts suggest that Bitcoin might aim for $110,000 soon. Stablecoins are also becoming important in the crypto world. Tether is expanding its influence in the digital economy. Overall, the crypto market shows signs of growth and stability. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Ethereum 2,09,972 ( 0.55 %) Buy Bitcoin 91,44,017 ( 0.5 %) Buy BNB 55,471 ( 0.4 %) Buy Solana 12,569.37 ( -0.09 %) Buy XRP 187.39 ( -0.71 %) Buy Tired of too many ads? Remove Ads Bitcoin climbed above the $106,000 mark on Wednesday, buoyed by easing geopolitical tensions, institutional interest, and sustained whale of 11:17 am IST, the world's largest cryptocurrency was up 1% at $106,345, while Ethereum rose 0.6% to $2,435. The overall crypto market gained 0.6%, reaching a market capitalisation of $3.27 trillion, according to major altcoins, BNB, Solana, Tron, and Chainlink posted gains of up to 1%. However, others like XRP, Cardano, Sui, Stellar, Avalanche, Toncoin, and Shiba Inu fell as much as 3%, indicating selective investor optimism across the broader Thakral, CEO of BuyUcoin, attributed Bitcoin's recent rally to improved geopolitical conditions. 'Bitcoin has seen a sharp rally following the announcement of a ceasefire between Iran and Israel, recovering from a recent dip amid heightened geopolitical tensions,' he said. 'The crypto is stabilising between $104,800 and $106,700.'He also noted the influence of U.S. Federal Reserve policy. 'The Fed chief has reiterated a commitment to tackle inflation and is not in a hurry to cut interest rates, which could affect liquidity in the short to mid-term,' Thakral Sehgal, Research Analyst at Delta Exchange, said Bitcoin is consolidating near $106,000 after breaking out of a mid-term descending structure. 'A move above $107,500 could push it toward $110,000–112,000. If $106,000 fails, key supports lie at $105,500 and $104,000,' she said, adding that current price action reflects a trend of higher highs and higher lows with whales accumulating and long-term holders staying Ethereum, Sehgal said, 'It has recovered from $2,160 and is now near $2,440. A breakout above $2,520 could target $2,650–2,800, while support lies at $2,320–2,360.' She also highlighted ETF inflows on 24/06, where $588.6 million worth of Bitcoin and $71.3 million in Ethereum were bought, suggesting continued institutional Patel, Co-founder and CEO of Mudrex, said Bitcoin is extending its upward momentum as bulls regain control. 'On-chain data shows a spike in Taker Buy volume, indicating strong conviction from aggressive buyers,' he said. 'Dovish Fed commentary on recession and rate cuts has also lifted sentiment.'Patel sees the $104,400 level as strong support, with a possible breakout above $108,000 if buying Maradiya, Founder and Chairman of CIFDAQ, said that while Bitcoin and Ethereum have bounced back, the more significant action is happening in stablecoins. 'Circle's market cap briefly surpassed Coinbase's, and Tether—fresh off $13.7 billion in profits—is building a U.S.-native stablecoin while complying with the GENIUS Act,' he said.'Tether now holds over 100,000 BTC and is positioning itself as a global mining force. This signals a maturing digital economy where infrastructure—not just prices—will define long-term value,' Maradiya added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Business Times
18-06-2025
- Business
- Business Times
Stocks to watch: Thakral Corp, Fu Yu, IHH Healthcare
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jun 18): Thakral Corp : The mainboard-listed company on Tuesday announced the launch of an initial public offering (IPO) of GemLife Communities, an Australian over-50s lifestyle resort operator, to raise up to A$750 million (S$628.2 million) at an implied post-money valuation of A$1.58 billion. It is fully underwritten by JPMorgan and Morgan Stanley in Australia, noted Thakral, which holds a 31.7 per cent effective interest in GemLife. Thakral intends to subscribe for an additional 600,962 GemLife stapled securities at the IPO price of A$4.16 per stapled security, translating to a total of 64,000,962 GemLife stapled securities. Its shares closed 2 per cent or S$0.03 lower at S$1.44 on Tuesday, before the news. Fu Yu : The components manufacturer on Tuesday said that it is actively seeking to appoint independent non-executive directors and has reached out to the Singapore Institute of Directors to invite suitable candidates to apply. This comes as all its independent directors resigned from the company's board recently. It added that it has agreed to table resolutions for the removal and appointment of directors, in response to its largest shareholder's request for it to do so under section 183 of the Companies Act 1967, having received legal advice that the request is valid and must be acted upon. The counter ended on Tuesday 5.3 per cent or S$0.005 lower at S$0.09. IHH Healthcare: Insurer Great Eastern (GE) has temporarily suspended pre-authorisation certificates for IHH Healthcare's Mount Elizabeth Hospitals from Tuesday, due to high costs from Mount Elizabeth and Mount Elizabeth Novena hospitals, compared to other private hospitals. The suspension however will not affect other IHH hospitals and facilities such as Gleneagles and Parkway East. GE customers can still seek care from Mount Elizabeth and Mount Elizabeth Novena, but will have no pre-authorisation facility, with no change to their benefits and claims assessed as usual. Shares of IHH Healthcare closed flat at S$2.07 on Tuesday.
Straits Times
18-06-2025
- Business
- Straits Times
Thakral associate GemLife to raise up to $628 million in biggest Australian IPO this year
GemLife, an over-50s lifestyle resorts operator, has nearly 10,000 homes in more than 30 Australian communities. PHOTO: GEMLIFE Thakral associate GemLife to raise up to $628 million in biggest Australian IPO this year SINGAPORE - An associate of property investor Thakral Corporation has launched an initial public offering (IPO) to raise up to A$750 million (S$628.2 million) at an implied post-money valuation of A$1.58 billion, the mainboard-listed company said in a bourse filing on June 17. The IPO of Australian over-50s lifestyle resorts operator GemLife Communities is set to be Australia's largest to date in 2025. GemLife is said to be the country's largest privately owned land lease developer, owner and operator, with nearly 10,000 homes in more than 30 communities. Its listing is fully underwritten by JPMorgan and Morgan Stanley in Australia, noted Thakral, which holds a 31.7 per cent effective interest in GemLife. The stapled securities are expected to be listed and quoted on the Australian Securities Exchange upon closing of the IPO on July 3. Thakral intends to subscribe an additional 600,962 GemLife stapled securities at the IPO price of A$4.16 per stapled security, translating to a total of 64,000,962 GemLife stapled securities. Thakral's effective interest in GemLife will be about 16.8 per cent post-dilution, the company said. The company noted that the listing will result in key financial reporting changes, where GemLife will cease to be an associate and instead be accounted for as an investment at fair value through profit or loss in Thakral's financial statements. This means Thakral will no longer record its share of GemLife's profits as previously done under the equity accounting method. Instead, future financial results will reflect periodic fair value adjustments based on GemLife's securities price, together with any dividends declared, Thakral said. On a pro forma basis, upon successful listing, Thakral's net asset value (NAV) attributable to shareholders is expected to increase by 67 per cent from $1.28 per share to about $2.15 per share. Pro forma financial effects are 'strictly for illustrative purposes only', Thakral noted. As part of the reclassification to fair value through profit or loss, Thakral will recognise a one-off gain in its income statement for the 2025 financial year, resulting in a substantial increase in profit and earnings per share (EPS). 'On a pro forma basis, had the GemLife listing and reclassification occurred on Jan 1, 2024, EPS would have increased by approximately 381 per cent from $0.225 to $1.08 for the financial year ended Dec 31, 2024,' the company said. The process is also expected to strengthen Thakral's balance sheet and reduce its gearing, while unlocking opportunities for the company to explore further investments to drive future growth, it said. Its pro forma total assets are expected to increase by about 42 per cent to $512.1 million, primarily reflecting the pro forma increase in net assets arising from the recognition of the fair value gain upon the reclassification, Thakral noted. With the repayment of receivables from GemLife, pro forma net borrowings are expected to decline about 56 per cent to $22.3 million. This means Thakral will also achieve a 'healthy total cash and bank balance' on a pro forma basis of about $38.4 million. This will result in a pro forma gearing ratio of 0.23 after GemLife successfully lists, compared to 0.39 as at Dec 31, 2024. 'We are confident that the listing will unlock significant shareholder value and set the stage for an exciting new chapter of growth for both GemLife and Thakral,' said Inderbethal Singh Thakral, chief executive and executive director of Thakral. In April, GemLife said it was considering its strategic options, which could include the consideration of a possible IPO. It said then that it was planning to conduct a series of introductory meetings with investors, and that the review of these options would be managed independently without the involvement or participation of Thakral Corp. On Jun 6, Thakral said GemLife was in 'advanced discussions with potential underwriters for the proposed IPO', although it noted that there was no assurance or certainty that the proposed IPO would proceed and close successfully. Thakral shares closed at $1.44 on June 17, 2 per cent or three cents lower. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
