Australia's HMC Capital eases from record-high levels on unit's IPO launch

HMC Capital

21/11/2024 03:27

(Updates share moves)
    ** Shares of HMC Capital  HMC.AX  reverse course to fall as
much 0.3% to A$11.69 
    ** Earlier in the session, HMC shares were up as much as
2.2% to a record level of A$11.99 
    ** The investment manager launches an ASX-listed digital
infrastructure real estate investment trust, DigiCo REIT, in an
A$2.75 bln ($1.79 bln) underwritten initial public offering
    ** Co says IPO expanded by A$100 mln, following interest
from both institutional and retail investors
    ** Co will own about an 18% stake, worth A$500 mln, in
DigiCo REIT
    ** Stock up about 32%, as at 0316 GMT, including day's moves
 


    ($1 = 1.5370 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))