Quite a lot of information available via Thakral, listed Singaporean company which owns 31.7 % of Gemlife.
Curious valuation for Thakral. According to the quick information I could find, Thakral has a market cap of 194 m S $ (around 232 m AUD). While Thakral owns now 31.7 % of Gemlife.
Most recent reports indicated that Gemlife could have an initial valuation of 1.57 bn AUD (source : the Australian). So, the valuation of Thakral share could be valued around 500 m$. At 31/3/25, Thakral had also a net financial debt of 53 m S $.
It does not seem to add up, unless Thakral's holding in Gemlife will be diluted by the large capital increase expected at the IPO.
