Qiwi managed to appeal Nasdaq’s delisting decision. The condition for holding securities on the stock exchange was the division of the business of payment systems into Russian and international. After the Nasdaq decision, Qiwi’s values on the Moscow Stock Exchange rose.
Nasdaq allowed the Qiwi payment system to remain listed on the stock exchange. This is stated in the message of the Qiwi press service.
The condition for maintaining the Nasdaq listing was the division of Qiwi’s business into Russian and international. Until June 30, the company must transfer assets in Russia to Qiwi Joint Stock Company, by August 30, complete the sale of Russian assets, and by September 11, inform Nasdaq about the fulfillment of the conditions.
Qiwi’s international business will be merged with Qiwi Plc. If the Bank of Russia approves the restructuring, both holdings will operate independently. This will not affect the availability of products for customers, summarized in Qiwi.
Qiwi’s shares on the Moscow Stock Exchange show an increase of 4.4%.
Yandex also managed to keep the listing on Nasdaq, the stock exchange commission granted the company’s appeal. Ozon’s market was denied one appeal: the company will file another to try to maintain the Nasdaq listing.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
