Qiwi will hold an extraordinary meeting of shareholders to approve the share buyback program of the Moscow Stock Exchange and Nasdaq. The buyback will occur, in particular, thanks to the retained earnings received. Previously, the company announced the sale of Russian assets to a Hong Kong company.
Qiwi calls an extraordinary shareholders meeting. It was scheduled for March 11 and the event will be held in Cyprus, according to the company in a statement.
The agenda of the meeting will include the approval of the share buyback program of the Moscow Stock Exchange and the American Nasdaq. The company hopes to carry out a buyback, in particular, at the expense of the accumulated profits received.
“The maximum purchase price of ordinary shares of class B2 of Qiwi plc, including shares represented by American depositary receipts on the Moscow Stock Exchange, may not exceed 581 rubles per share,” Qiwi’s press service reported.
Under conditions not yet approved, Qiwi plc must dispose of the securities within two years from the date of the buyback; otherwise they will be cancelled.
On January 19, Qiwi announced the sale of its Russian business to Hong Kong company Fusion Factor for 24 billion rubles. The buying company is owned by Andrey Protopopov, CEO of the Qiwi group.
Author:
Kirill Bilyk
Source: RB
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