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AUSTRALIA'S COMPUTERSHARE TO TAKE CONTROL OF HK SHARE REGISTER.
SYDNEY, March 1 Asia Pulse - Computershare Ltd (ASX:CPU) will take full control of Central Registration Hong Kong, the country's largest share registrar, in a $A40 million ($US20.98 million) cash deal.
Under the deal, Computershare will boost its current 50 per cent stake in the registrar by buying the remaining 50 per cent stake held by a subsidiary of banking giant HSBC Holdings Plc.
Computershare, which is expected to report its first half earnings today, said it expected the Hong Kong deal would be completed within the next week.
Central Registration's current management team is to continue operating the business.
Its executive chairman Julian Leiper will keep his job after having been seconded to Central Registration from the UK operations of Computershare in January.
Managing director David Lee will also remain in his position, a job he has held for 10 years.
Mr Leiper said Computershare would plough money into Central Registration in anticipation of a scripless market in Hong Kong and to align the business with its other share registration centres in key financial markets.
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