Lifestyle Communities shares soar as HMC Capital buys stake
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The news: Shares in Lifestyle Communities jumped at market open on the ASX after investment manager HMC Capital became a substantial holder.
The numbers: Lifestyle Communities shares rose 7.2% to $9.06 by 11am AEDT, making it the best performing company across the ASX 200. Over the last 12 months its share price has plummeted 45.38%.
HMC shares moved in the other direction, falling 1.3% to $10.02. However, it has rocketed 116.52% over the last 12 months.
The context: HMC bought up a 2.69% holding in the company, or 3.27 million shares, according to an ASX filing late Monday.
The source: ASX announcement
