Australia’s HMC Capital to list data centre trust worth A$4 billion
AUSTRALIA’S HMC Capital will press ahead with the initial public offering of its data centres business that would be worth A$4 billion (S$3.5 billion), according to its regulatory filings on Monday (Nov 11).
A deal of that size would be the largest IPO in Australia this year.
HMC Capital said the Digico Real Estate Investment Trust (Reit) would have 13 data centres in its portfolio and 586 customers.
Its assets under management will stand at about A$4 billion and HMC Capital would invest a minimum of A$500 million that would give it an almost 19 per cent stake in the business.
The IPO comes after HMC said it would spend A$400 million to buy Australian data centre operating platform iseek.
The acquisition helped push HMC shares up by as much as 4 per cent to a record high of A$10.79.
HMC’s regulatory announcements did not specify a timeline for the IPO but local media said the Reit should be listed on Dec 16. REUTERS
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