APRL wins CBA-Colonial registry contract
ASX Perpetual Registrars Ltd (APRL) has beaten its chief rival Computershare for the registry services for the combined group formed by the merger of Commonwealth Bank and Colonial groups.
ASX Perpetual Registrars Ltd (APRL) has beaten its chief rival Computershare for the registry services for the combined group formed by the merger of Commonwealth Bank and Colonial groups.
APRL already held the contract for services to the Commonwealth register while Computershare managed the Colonial share register but was unsuccessful in bidding for the $4 million per year contract which will service acombined register of about 900,000 shareholders.
APRL currently manages the share registry of Telstra and NRMA Insurance, two of the biggest share registers in Australia.
With the inclusion of the expanded CBA register APRL will provide registry services for over 170 of Australia's listed companies with approximately 7.7 million shareholders.
APRL is a joint venture formed between the Australian Stock Exchange and Perpetual Trustees Australia in March with both groups holding a 50 per cent stake.
At the time it stated it would service listed securities within the $125 million local registry market with plans to grow existing and new markets, including overseas.
The creation of APRL placed it second behind Computershare in terms of market share with 35 per cent share of the market compared to Computershare’s 55 per cent.
AUTHOR
Jason Spits
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