Offshore Dalliance Services Company (DSC, Republic of the Marshall Islands), owned by Qiwi’s largest shareholder and chairman of the board of directors Sergey Solonin, offered foreign shareholders to buy back their securities in the payments business for $25 million.

Sergey Solonin’s company intends to buy Qiwi shares from foreign investors

We are talking about class B common stock and American Depository Stock (ADS). The stock buyback price is in the range of $2.2-2.7 per share, Kommersant writes, citing DSC documents.

Trading in Qiwi's stock was halted on the Nasdaq more than four months ago, and shareholders missed the opportunity to sell it. Also, a negative factor is the presence of the bank FC Otkritie, which was sanctioned, among Qiwi's shareholders.

Qiwi ADS trading was suspended on the Nasdaq on February 28, the last price was $5.67 per share. The company's depository shares continue to be listed on the Moscow Stock Exchange. As a result of trading on July 7, its value amounted to 299 rubles, or about $4.8.

According to the DSC document, Solonin decided to "give liquidity" to shareholders. At the same time, he will own a new package "for investment purposes."

  • Qiwi plc's business is focused on payment services. According to the company, it has 27 million customers who make 148 billion monthly money transfers.
  • Qiwi's authorized capital is divided into 10.4 million class A shares (providing 10 votes) and 52.3 million class B shares (1 vote).
  • FC Otkritie Bank owns 41% of the class B shares, giving it 13.7% of the votes. Sergei Solonin owns 99.9% of class A shares, which is 66.6% of the votes.

Author:

anastasia mariana

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.

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