Equiniti Group (EQN)

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FTSE 250

 149.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 230.40
  • 52 Week Low: 133.40
  • Currency: UK Pounds
  • Shares Issued: 364.54m
  • Volume: 245,076
  • Market Cap: £543.16m

Equiniti expands US operation with CST acquisition

By Josh White

Date: Monday 04 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Services and payments specialist Equiniti Group has completed the acquisition of Corporate Stock Transfer (CST), it announced on Monday, which will become part of its US division, EQ.
The FTSE 250 company described CST as a US transfer agent based in Denver, Colorado.

It was founded in 1985, and acts primarily for domestic and international public, micro-cap companies.

It explained that it offers a "wide range of services", including record keeping, escrow services, annual meeting services and paying agent services, and maintains records for more than 700 clients.

Through the transaction, CST's existing clients would benefit from access to the "broad range" of products EQ offers, such as employee stock plans and equity compensation services.

The acquisition presented substantial benefits for EQ, the company added, including "significant" projected cost synergies.

It said the micro and small-cap client space was a new growth area for the business, and the opportunity to serve the fast-growing Chinese market also created "significant" opportunities.

"The acquisition of CST is an exciting step in our journey to consolidate our investment into equity based services in North America and do more in the markets we serve," said Equiniti chief executive officer Guy Wakeley.

Todd May, CEO of Equiniti's US division EQ, added that CST's focus on serving clients so they could achieve their goals aligned with EQ's approach to service.

"Our new Shareowner Online and EQ Insight portals will power the growth of this important segment of the industry.

"The addition of Corporate Stock Transfer brings opportunities to leverage our technology and operating model as well as adding a new strategic site in Denver to our growing US footprint."

Finally, Carylyn Bell - president and founder of Corporate Stock Transfer - said her company was "delighted" to be joining EQ, which she said shared its value of service excellence.

"Together we will be able to offer our clients an even broader range of services powered by industry-leading technology.

"The combination of our businesses presents a compelling proposition for our existing clients and exciting growth prospects for the team.

"I look forward to working with our new colleagues to capitalise on this opportunity."

As at 0855 GMT, shares in Equiniti were up 0.37% at 219.6p.

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Equiniti Group Market Data

Currency UK Pounds
Share Price 149.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 230.40
52 Week Low 133.40
Volume 245,076
Shares Issued 364.54m
Market Cap £543.16m

Equiniti Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
14% below the market average14% below the market average14% below the market average14% below the market average14% below the market average
12.15% above the sector average12.15% above the sector average12.15% above the sector average12.15% above the sector average12.15% above the sector average
Price Trend
45.66% below the market average45.66% below the market average45.66% below the market average45.66% below the market average45.66% below the market average
46.43% below the sector average46.43% below the sector average46.43% below the sector average46.43% below the sector average46.43% below the sector average
Income
15.62% below the market average15.62% below the market average15.62% below the market average15.62% below the market average15.62% below the market average
10.81% above the sector average10.81% above the sector average10.81% above the sector average10.81% above the sector average10.81% above the sector average
Growth
40.45% above the market average40.45% above the market average40.45% above the market average40.45% above the market average40.45% above the market average
19.23% above the sector average19.23% above the sector average19.23% above the sector average19.23% above the sector average19.23% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Equiniti Group Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 11-Apr-19
Paid 25-Oct-19 16-May-19
Amount 1.95p 3.49p

Trades for 03-Jul-2020

Time Volume / Share Price
16:35 72,766 @ 149.00p
16:29 2 @ 148.20p
16:29 552 @ 148.20p
16:29 529 @ 147.80p
16:29 132 @ 147.60p

Equiniti Group Key Personnel

CEO Guy Wakeley
CFO John Stier

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