Degala: Australia United has discussed in-depth listing plans

Degala's share price fell 5.0% on Friday and closed at 1.52 yuan.

Degala revealed on Friday evening (June 6) that its 31.7% stake in Australia, resort operator GemLife, is considering the listing plan and has been discussing the plan in depth with possible underwriters, but there is no guarantee that it will proceed. It did not disclose the scale of the listing fundraising and the time of the stock sale.

Degala first revealed in April that GemLife's proposed share sale. It provided updates on Friday.

An Australian United, an investment company listed on the main board of SGX, is considering an initial public offering to list on stapled securities in Australia.

GemLife is owned by Living Gems, a company of the Australian Puljich family and Degala, Singaporean company, focusing on developing and managing lifestyle resorts for people over 50 in Australia.

On the other hand, according to Reuters, Australian media reported on Thursday (5th) that GemLife plans to launch a stock sale on July 4, offering stocks of 700 million to 750 million Australian dollars, with a market value of 1.57 billion Australian dollars.