Computershare Limited UK today has acquired a further 15% stake in the National Registry Company (NRC), one of Russia’s leading registrars, taking its total holding in the company to 45%.
Computershare acquired the stake from the International Finance Corporation, and is now the largest shareholder in NRC.
Computershare says its investment in NRC is an important part of the group’s global expansion strategy, and positions it to leverage the “inevitable” consolidation of Russia’s registry market.
Jeff Sainsbury, General Manager at Computershare and a Director of NRC, says that NRC is a successful and profitable company with strong management.
“The Russian market has over 70 registrars compared to 5 or 6 operating in the UK, which we believe is unsustainable,” says Sainsbury. “A consolidation of the market is inevitable, and our significant stake in one of Russia’s leading registry businesses places us in the optimal position to participate fully in any movement going forward. Acquiring and increasing our stake in the dynamic Russian market fits well with our global expansion strategy, and offers the group many opportunities for expansion, both organically and by acquisition.”
NRC maintains 3 million shareholder accounts for joint stock companies and mutual funds, and delivers registry services to 400 clients across Russia, including Aeroflot, Norilsk Nickel, Vimpelcom, and Pio Global. The company was established in 1995. NRC employs 120 people and has ten offices in Russia, with headquarters in Moscow.