In today’s briefing:
- Gemlife (GLF AU): Index Inclusions Start Later This Year
- SingPost (SPOST SP): More Non-Core Divestments – Slowly But Surely
- 10 in 10 with MoneyMax Financial Services – Modernising an old trade
Gemlife (GLF AU): Index Inclusions Start Later This Year
- Gemlife (GLF AU) is looking to raise A$750m in a primary offering, valuing the company at A$1.58bn. The stock is expected to start trading on 3 July.
- The Puljich family and Thakral Corp (THK SP) are escrowed on their shares till mid 2026 at the earliest.
- Gemlife (GLF AU) could be added to global indexes in November and December this year, but S&P/ASX 300 Index inclusion could take place only in March 2026.
SingPost (SPOST SP): More Non-Core Divestments – Slowly But Surely
- After selling its Aussie-based logistics ops earlier this year, Singapore Post (SPOST SP) continues to divest non-core assets and businesses.
- The latest is the sale and leaseback of 10 Housing & Development Board shophouses, which could net S$50mn.
- SPOST has declared a S$0.09/share special dividend from the Aussie sale. Shareholders will vote on the dividend at the AGM on the 23rd July.
10 in 10 with MoneyMax Financial Services – Modernising an old trade
- MoneyMax Financial Services achieved a record profit after tax of S$41.6 million in FY24, a 65.4% increase.
- Revenue grew 36.5% to S$390.1 million, driven by a 36.0% increase in gold and luxury items sales.
- Pawnbroking revenue rose 47.3% to S$94.3 million, attributed to higher interest income from increased receivables.
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