HSBC gets out of share registry business

Computershare ups its stake in Central Registration Hong Kong to 100% as part of its global strategy.

Computershare, the 50% owner of Hong Kong's largest share registrar, Central Registration Hong Kong, has agreed to acquire the outstanding 50% from a subsidiary of HSBC Holdings for HK$164 million $21.02 million in cash.

The transaction, to be complete by next week, will give Computershare free rein to align Central Registration with its other share registration centres in key financial markets. The company also says it plans to invest more in Central Registrations infrastructure in anticipation of a scripless market in Hong Kong.

Computershare will fund the acquisition from existing debt facilities and cash reserves, which were boosted last week when the company sold its SUMMIT product line of back-office broker accounting...

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