2024-01-19 19:17:08
Fintech Qiwi sells to management its assets in Russia, consolidated in the Qiwi company, a company from Hong Kong Fusion Factor Fintech Limited, owned by Andrey Protopopov, January 19 reports TASS.
The proceeds from the transaction will be used to develop international business, as well as to buy back shares from NASDAQ and the Moscow Exchange (up to 10% of the company’s shares), writes financial media Frankmedia.
The transaction price will be 23.75 billion rubles, it already takes into account the discount for foreign participation and, as the publication writes, an increased level of uncertainty associated with temporary restrictions by the Bank of Russia on some operations of Qiwi Bank. The sale has already been approved by the Russian regulator and the company’s board of directors. The payment will stretch over four years: within 4 months following the transaction, 11.875 billion rubles must be paid, the remaining half must be repaid in four equal installments, starting from the fourth quarter of this year.
Andrey Protopopov will continue to lead the business in Russia, but he will have to leave his leadership positions at QIWI. Alexey Mashchenkov will move to the chair of the chief executive officer from the chair of the financial director.
Qiwi’s assets in the Russian Federation include QIWI Bank, QIWI Business, QIWI Wallet, Contact money transfer system, ROWI group of companies, Realweb, Flocktory, Taxiaggregator, IntellectMoney and several others. The company’s business in Kazakhstan, the UAE and other countries will develop within the framework of the Qiwi project.
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