Qiwi depositary receipts at their lowest level fell in price by 50%, to 240.5 rubles. This occurred after Qiwi Bank’s Central Bank license was revoked. At the same time, the Moscow Stock Exchange announced the second discrete auction of the company’s securities for the day.
The Moscow Stock Exchange announced the day’s second discrete auction of Qiwi securities from 12:24 Moscow time to 12:54 Moscow time. It is launched in place of regular trading during sharp fluctuations in stock value; Only limit orders indicating price are available, market orders are not accepted.
The cost of Qiwi receipts fell by more than 20% compared to the price at the start of the previous discrete auction – 362 rubles, the Moscow Stock Exchange reported. At 13:15 Moscow time, the price of securities was 264 rubles (a decrease of 45%).
Qiwi’s revenue plummeted after the Bank of Russia revoked Qiwi Bank’s banking license. The Central Bank explained that the bank violated federal laws and did not comply with the regulator’s requirements.
This was the first time a banking license has been revoked since August 2022.
After the bank’s license was revoked, replenishment of a Qiwi wallet became unavailable, the payment system also blocked the withdrawal of funds, and service terminals in Moscow stopped accepting payments. Qiwi Bank announced the closure of its offices in the capital, St. Petersburg and Kazan. A temporary administration has now been introduced into the organization.
The Central Bank also stated that electronic wallets are not covered by the deposit insurance system.
Author:
Anastasia Marina
Source: RB
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