HMC capital announces successful completion of AU$125 million placement

HMC Capital Limited (ASX: HMC) announced the successful completion of its AU$125 million institutional placement to institutional investors of approximately 35.7 million new fully paid ordinary shares at AU$3.50 per placement share. Both current institutional shareholders and new institutional investors expressed substantial interest in the placement.

The proceeds of the Placement and security purchase plan (SPP), as previously announced, will be used to support HMC's commitments to the equity raising announced by HealthCo Healthcare & Wellness REIT on 30 March 2023, provide an equity backstop for the new Unlisted Fund, and fund the associated transaction costs incurred in connection with the Placement and SPP.

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