AUS
NZ
UK
CA
USA
IND
Highlights
- Share Price Performance: HMC Capital's stock is up 0.57% today, reaching $12.26 per share, building on its impressive 146% gain over the last 12 months.
- Renewables Acquisition: The company announced a $950 million deal to acquire French company Neoen's Victorian renewable generation and storage assets, which includes both operational and development assets.
- Impact on Assets Under Management: The acquisition increases HMC’s assets under management (AUM) to approximately $19 billion, with expectations to exceed $20 billion by FY 2025.
HMC Capital Ltd (ASX:HMC) is continuing its strong performance on the stock market, with shares rising 0.57% to $12.26 in Thursday morning trading. This uptick adds to an exceptional year for HMC shareholders, who have seen a remarkable 146% increase in the stock price over the past 12 months.
This rise comes on the heels of an announcement that HMC has entered into agreements to acquire Neoen's Victorian renewable generation and storage portfolio for $950 million. The deal includes four operational assets with a total capacity of 652 megawatts and six development projects expected to add over 2,800 megawatts.
HMC Capital has secured $550 million in senior debt financing to support the acquisition, with the full amount expected to be settled by December 2025. The company emphasized that the price for the assets is below the replacement cost and includes a strong growth pipeline, which is expected to contribute to immediate earnings starting in FY 2026.
Following the acquisition, HMC's assets under management (AUM) will rise to approximately $19 billion, with expectations to surpass $20 billion by FY 2025.
