The Moscow Stock Exchange will transfer Qiwi receipts to the third trading level. This will reduce the requirements for the issuer and increase the risk of the investment. Previously, Qiwi called an extraordinary meeting of shareholders to approve the buyback program in connection with the sale of the Russian business.
Qiwi depositary receipts will be transferred from the first to the third trading level from January 29, the press service of the Moscow Stock Exchange reported.
The move of securities to the third level of listing represents a reduction in the requirements for the issuer to provide data and an increase in the risk of investments in its business.
Previously, Qiwi announced the convening of an extraordinary meeting of shareholders to approve a program to buy back securities from the Moscow Stock Exchange and the American Nasdaq.
Qiwi announced the sale of its Russian business for 24 billion rubles on January 20. The buyer will be Fusion Factor Fintech Limited of Hong Kong, owned by Andrey Protopopov, CEO of Qiwi group.
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.
