Shares of Computershare (ASX:CPU) see a significant surge of up to 3.3%, reaching A$26.66.

This marks their highest level since December 22.

The last recorded gain for the stock was 1.6%.

The company entered a definitive agreement to sell its U.S.

mortgage services business to Rithm Capital Corp for an estimated consideration of $720 million.

Computershare expects that the transaction will promote earnings per share (EPS), though it would not have a substantial impact on the financial year 2024 EPS guidance.

The completion of this transaction is scheduled for early Q4 in Financial Year 2024 and is expected to result in a one-off statutory pre-tax loss on the sale of roughly $150 million to $180 million.

Computershare’s stock has dropped by 1.5% this year as of the last closure.

Computershare (ASX:CPU) is a share registry firm.