Australia's HMC Capital emerges top gainer after receiving energy transition fund

HMC Capital

07/05/2024 02:16

** Shares of Australia's HMC Capital  HMC.AX  rise as much
as 10.4% to A$7.1, set for their best day since Feb 20, if gains
hold
    ** Stock emerges as biggest gainer in the benchmark index
    ** Stock at its highest level since April 2
    ** The asset manager announced energy transition fund on May
6 after market hours
    ** HMC says fundraising would start in H2 2024 and raise up
to A$2 bln ($1.33 bln)
    ** Adds over medium term, energy transition fund would aim
to build portfolio of 15GW across energy value chain
    ** Stock up 4.9% YTD, as of last close

    ($1 = 1.5060 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))