Qiwi plc plans to split its business into Russian and international to maintain its listing until November 11, 2023. The company has requested a deferral from Nasdaq and needs regulatory approval to sell its Russian assets.
The group has already met the main Nasdaq restructuring conditions: it prepared a report on the valuation of all its assets in Russia through an independent appraiser, consolidated assets within the Qiwi holding and published interim financial statements for the first half of 2023.
The company previously planned to complete a complete separation of the business at the end of summer. If the restructuring is approved by the Central Bank of Russia, then Qiwi plc. and the Qiwi holding company will become independent organizations from each other.
In June, Nasdaq allowed the Qiwi payments system to maintain its listing on the exchange. Yandex also managed to maintain its listing on Nasdaq; The exchange commission accepted the company’s appeal. The Ozon market was denied an appeal: the company will file another to try to maintain its listing on Nasdaq.
Author:
Karina Pardaeva
Source: RB
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