Former Qiwi to file for delisting from Moscow Exchange
MOSCOW. Oct 6 (Interfax) - The board of directors of NanduQ , formerly Qiwi Group plc, has approved the delisting of its American Depositary Receipts (ADRs) from Moscow Exchange , the fintech company said.
"The company has currently no operational activities in Russia and has neither carried out nor declared a re-domiciliation. Accordingly, the continuous listing on MOEX is not a strategic priority for the company which plans to focus on the development of its international business and will keep Astana International Exchange as the key listing venue for its ADRs," NanduQ said.
It is expected that the delisting application will be filed by the Company on October 6. The effective date of delisting will be announced once confirmed by the Moscow Exchange.
In approving the application for the delisting, the company also took into account a third-party tender offers completed by Fusion Factor Fintech Limited, announced in July and September.
Fusion Factor Fintech, which bought the Qiwi Group's Russian assets, initially launched an offer in late May to repurchase up to 10 million ADRs, conducting the buyback in two stages. The first stage ran at a price of 210 rubles per ADR. The company acquired 42.2% of the maximum offer. During the second stage, with settlements on July 8, the company repurchased around 3.5% of the limit. In total, the company repurchased 4,563,312 ADRs or 45.63% of the maximum offer volume for 953.1 million rubles. A second buyback offer was announced on September 30 at 210 rubles per ADR. The offer expires on November 11 with settlement due that day.
At the end of January 2024, Qiwi Group sold its Russian assets consolidated under JSC Qiwi to Fusion Factor Fintech Limited, which belongs to former Qiwi CEO Andrei Protopopov. The group's international business in Kazakhstan, the United Arab Emirates and other countries continued to develop within Qiwi Plc. In August last year, Qiwi shareholders approved the name change to NanduQ Plc.
The assets sold by NanduQ Plc, then Qiwi Group, to Fusion Factor Fintech in January 2024 included Qiwi Bank, Qiwi Wallet, Qiwi Business, the money transfer service Contact, Rowi, Realweb, Flocktory, Taxiagregator, IntellectMoney and a number of others, for a price of 23.75 billion rubles. On February 21, 2024, one month after the deal, the Central Bank of Russia revoked Qiwi Bank's license, whereupon the bank was placed under temporary management and the Deposit Insurance Agency was appointed as the liquidator.
NanduQ Plc's charter capital comprises 62,712,975 shares, including 10,413,522 class A shares and 52,299,453 class B shares. NanduQ Plc shares in free float account for 71.56% of total shares. The largest shareholder is Sergei Solonin with 28.4% of shares and 71.3% of voting rights - each class A share carries 10 votes while each class B share carries one vote.
In September 2024, NanduQ Plc announced the delisting of its ADS from NASDAQ. The company's ADS currently trade on Astana International Exchange (AIX) under the ticker NNDQ and on the Moscow Exchange under the ticker QIWI.
