Australian data centre firm DigiCo REIT largely flat in trading debut (updated)

HMC Capital

13/12/2024 01:35

(Adds more details from paragraph 2 onwards)
       Dec 13 (Reuters) - Australia's HMC Capital-backed
 HMC.AX  data centre business DigiCo REIT  DGT.AX  was largely
flat in its market debut on Friday.
    Shares of the company opened at A$4.98 per share, compared
with the offer price of A$5 each. The stock traded in a tight
range between A$4.96 and A$5.10 during the first 30 minutes of
trading. 
    DigiCo sold 399.1 million shares and raised nearly A$2
billion ($1.27 billion) in the initial offering — the country's
largest since 2018 — with an A$2.75 billion market
capitalisation and pro forma enterprise valuation of A$4.24
billion, according to its filings.
    HMC Capital fixed its contribution at A$500 million worth of
shares, making it the biggest shareholder with an 18.21% stake.
    


($1 = 1.5713 Australian dollars)

 (Reporting by Himanshi Akhand and Sneha Kumar in Bengaluru;
Editing by Alan Barona)
 ((Himanshi.Akhand@thomsonreuters.com))