Australian asset manager HMC Capital slumps on Neoen acquisition delay

HMC Capital

01/07/2025 05:39

** Shares of HMC Capital HMC.AX fall 15.5% to A$4.31, their lowest level since November 2023

** Stock fell as much as 19.6% to A$4.100, marking its worst intraday pct drop since March 2020

** Alternative asset manager says acquisition of Neoen Australia’s Victorian assets deferred by a month to August 1

** An A$200 million financing facility secured against the Neoen Victoria portfolio

** Angela Karl, managing director and head of Energy Transition, steps down; Gerard Dover appointed CEO, Energy Transition

** HMC biggest loser in the ASX 200 benchmark index .AXJO, which is flat as of 0433 GMT

** More than 5.7 million shares change hands, nearly 4 times the 30-day average of 1.5 million

** Stock down 56.4% this year, including the day's move

 (Reporting by Sameer Manekar in Bengaluru)

 ((Sameer.Manekar@thomsonreuters.com;))