(Reuters) – Australia’s HMC Capital-backed data centre business DigiCo REIT was largely flat in its market debut on Friday.
Shares of the company opened at A$4.98 per share, compared with the offer price of A$5 each. The stock traded in a tight range between A$4.96 and A$5.10 during the first 30 minutes of trading.
DigiCo sold 399.1 million shares and raised nearly A$2 billion ($1.27 billion) in the initial offering — the country’s largest since 2018 — with an A$2.75 billion market capitalisation and pro forma enterprise valuation of A$4.24 billion, according to its filings.
HMC Capital fixed its contribution at A$500 million worth of shares, making it the biggest shareholder with an 18.21% stake.
($1 = 1.5713 Australian dollars)