Australia's HMC Capital rises on Payton Capital acquisition, completes A$100 mln placement

HMC Capital

27/05/2024 02:21

** Shares of asset manager HMC Capital  HMC.AX  rise as much
as 6.1% to A$7.340, their highest since March 15
    ** Co completes A$100 mln ($66.31 mln) placement at issue
price of A$6.50 per share 
    ** Co also announced acquisition of commercial real estate
private credit fund manager Payton Capital for upfront
consideration of A$127.5 mln
    ** Co expects acquisition to be immediately earnings
accretive
    ** As of last close, stock up 12.2% this year


($1 = 1.5081 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))