Street Talk

Land lease giant GemLife eyes $700m-plus IPO at $2b val; roadshow on

Sarah Thompson, Kanika Sood and Emma Rapaport

May 21, 2025 – 12.39pm

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While everyone holds their breath for Virgin’s $4 billion float to take off, another multibillion-dollar IPO hopeful is quietly marching ahead with its ASX debut.

Street Talk can reveal GemLife, the land lease communities giant owned by Queensland’s Puljich family and Thakral Capital, this week told fund managers to think about a $700 million-plus raising at a circa $2 billion valuation that could launch in the coming weeks.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.