Thakral (SGX:AWI), which owns a 31.7% stake in GemLife, said the Australia-based developer is currently considering strategic options, which may include an initial public offering.
The statement is a response to a news article by The Australian Financial Review claiming GemLife is testing fund managers' appetite for a public listing.
GemLife intends to hold introductory meetings with investors but there is no certainty the company will proceed with a transaction, Thakral said.
Shares of the Singaporean property developer were down 5% in recent trading.
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