The Qiwi Group will divide the business into Russian and international. The process should be completed by the end of August, the company’s press service said.
Also, the Qiwi group, which includes the bank and payment service of the same name, announced that it would retain its listing on the NASDAQ exchange. The American site satisfied the appeal of Qiwi, canceling its decision to delist the company’s shares.
Andrey Plotnikov, investment fund manager and author of the Profit telegram channel, comments:
– I think that agreements have taken place, and, according to the information I have, they began four months ago. It’s very dangerous at the moment to completely lose your business abroad, and let me remind you that Qiwi’s main source of income in the last two or three years has been international business, not Russian. Therefore, of course, I would not want to lose such a niche, and Qiwi will definitely only benefit from this.
– And how exactly will Qiwi divide the business, what does it have abroad and in Russia?
– Abroad, this company has very good contracts with a number of banks in Europe, in America, including those affecting the market of the Asia-Pacific region. That is, we can say that Qiwi is not full-scale, but more or less present in almost all financial regions of the world. And today, the share of Qiwi’s transactions, if they still remain, and I think they most likely remain on the NASDAQ, will be about 7-10% in terms of e-commerce, trade. This business, these transactions, these arrangements with banks will continue to save Qiwi’s international business. If we talk about the Russian division of Qiwi, it will continue to serve purely Russian regional business, and the share, of course, will become very poor. I think that subsequently the Russian division may even be closed.
Earlier, the press service of “Yandex” reported that the company has achieved the cancellation of the decision on the forced delisting of shares on the NASDAQ exchange. One of the conditions was the division of business into Russian and international.