Computershare Limited (ASX:CPU) today announces two transactions with BANK URALSIB, continuing our long term strategy to build a substantial market leading business in Russia.
Computershare has agreed terms to acquire a controlling interest in The National Registry Company (NRC), Russia's largest independent registrar.(1) Computershare has been a shareholder in NRC since 2003.
NRC was established in 1995 and has made significant investments in client service and technology, placing the business at the forefront of innovation and best practice in the Russian registry industry. Key clients include Norilsk Nickel, Aeroflot, Rosbank and Vimpelcom.
NRC is the only independent registrar in the Russian market with access to Computershare's global footprint, including direct electronic links to the UK CREST system. For Russian companies looking to pursue a dual-listing in Moscow and London, NRC is uniquely placed to provide efficient cross-border settlement between the Russian stock exchanges and the UK markets.
Computershare is also pleased to announce the acquisition of a strategic stake in Registrar NIKoil, Russia's number three registrar and largest mutual fund transfer agent. Founded in 1993, Registrar NIKoil benefits from a strong management team, excellent corporate governance and was the first to pioneer electronic links to Russian settlement depositaries. Key clients include LUKoil and URALSIB Asset Management.
Computershare remains committed to developing a business in Russia that will continue to make a significant contribution to the development of a strong Russian financial market, by raising standards of transparency and delivering security of title for all Russia based investors. Over time, Computershare intends to develop a standard technology platform to work with existing market participants in the Russian domestic market and enable cross-border connectivity.
These acquisitions position Computershare as a market leader in Russia, strengthening its client base and creating significant consolidation opportunities within the Registry market. Chris Morris, Computershare's CEO, feels that this further expansion demonstrates the company's unswerving commitment to creating a global registry service for its clients:
"Computershare provides an unparalleled global service for its clients - we are the only company able to offer comprehensive, local registry services on all 5 continents and to have on the ground representation across 20 countries. We firmly believe that Russia will play a key part in our portfolio going forward."
Computershare will also look to build upon strong relationships with global Russian clients, offering them a wider range of services as they continue to develop their business activities both in and outside of Russia.