HMC Capital shares rise on potential data centre acquisitions
Make us a preferred source
Make us a preferred source on Google
More news: HMC Capital shares gained after the investment manager confirmed it is conducting due diligence to potentially acquire various data centre assets, including Global Switch Australia.
HMC shares added 2% to $8.53 by 1:20pm AEST, having surged more than 80% over the last 12 months.
HMC Capital in due diligence for Global Switch Australia acquisition
The news: Investment manager HMC Capital has confirmed it is conducting due diligence to potentially acquire various data centre assets, including Global Switch Australia.
The numbers: The statement to the ASX follows media reports that HMC is in talks to buy data centre operator Global Switch Australia for $2 billion as it finalises plans for a real estate investment trust.
HMC shares were down 1.7% to $8.22 in early trading on the ASX.
The context: While discussion remain ongoing and terms of any potential deals remain confidential, there is no assurance any transaction will be agreed and completed, HMC said.
The ASX-listed HMC Capital acquired a majority stake in Victoria-based battery energy storage developer StorEnergy in July and private credit investor Payton Capital in May.
It also holds large stakes in listed firms Baby Bunting, property developer LendLease, agribusiness GrainCorp and pharmacy wholesaler Sigma Healthcare.
The sources: ASX announcement, AFR
