HMC Capital (ASX:HMC) received notice that Home Investment Consortium Trust (HICT) and its affiliated entities reduced their holdings in the company to 21.45% from 27.22% on May 22 via share transfer, according to a Monday filing with the Australian bourse.
HICT's unitholder, Spotlight Group, exchanged its 12% stake in HICT for 10.8 million HMC Capital shares held by the trust, the filing said.
HICT now owns 79.5 million shares in the company, the filing said.
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