Solonin firm offers to buy 5 mln Qiwi shares for $2 each
MOSCOW. Nov 25 (Interfax) - Dalliance Services Company, controlled by Sergei Solonin, the majority shareholder in Qiwi , has made an offer to buy shares in the Russian fintech group.
Qiwi, which operates one of Russia's largest payment services, said in information that Dalliance Services planned to buy 5 million class B shares, some of them of them in the form of ADS, at $2 per share or $10 million in total.
The offer lapses at midnight New York time on December 22. Trading in Qiwi ADS trade on the Nasdaq was suspended on February 28, their last closing price being $5.67. Qiwi closed trading on the Moscow Exchange at 410.5 per share or $6.8 on November 21. Dalliance Services has no information about a resumption of trading on the Nasdaq. It also mentions existing restrictions on operations on the Moscow Exchange.
Qiwi minority shareholders tendered 4,861,390 class B shares for repurchase in a previous offer, which expired in September 2022. Dalliance Services bought back 9.3% of class B shares, which carry 3.1% of voting rights. As a result, Solonin became the owner of 10,413,510 class A shares directly and indirectly controls 4,861,390 class B shares. As a result, his stake in Qiwi increased from 66.6% to 69.7% voting shares.
Dalliance Services planned in the first offer to buy up to 10 million class B shares or 19.1% of class B shares and 15.9% of all shares at $2.50 each.
Qiwi's share capital consists of 10,413,522,000 class A shares and 52,299,453,000 class B shares with a par value of 0.0005 euro. One class A share represents 10 votes and one class B share represents one vote.