Hong Kong Exchanges and Clearing Limited (HKEx) has agreed to sell its 30 per cent interest in Computershare Hong Kong Investor Services Limited (CHIS) to Computershare Limited of Australia, which currently owns 70 per cent of CHIS, for $270,320,130.
The transaction will be completed on 3 April this year and result in a profit of about $220 million for HKEx. Net proceeds from the sale will be used by HKEx for general working capital purposes.
"The Board believes the transaction represents a good opportunity for HKEx to realise a gain on its interest in CHIS acquired in 2002 through the merger of the share registration business of Hong Kong Registrars Limited, HKEx's then subsidiary, and Computershare's Central Registration Hong Kong Limited (renamed as CHIS after their merger), and its subsequent acquisition of a 6 per cent interest in CHIS in 2005," said HKEx Chairman Ronald Arculli.
An announcement on this transaction has been published on the HKEx website.
