TCS Group holding company re-domiciles to Russia

VLADIVOSTOK. Feb 26 (Interfax) - IPJSC TCS Holding, established as part of TCS Group's re-domiciling from Cyprus to Russia, has registered in the special administrative region (SAR) on Russky Island in Primorye, the press service of the Far East and Arctic Development Corporation (FEDC) told Interfax.

"IPJSC TCS Holding became the 70th company registered in the SAR on Russky Island on February 26, 2024," the FEDC said.

Konstantin Markelov has been appointed CEO. Markelov was previously vice president for business technologies at Tinkoff Bank according to the latest available open data. TCS Holding has charter capital of 725.349 million rubles according to data in the Unified State Registry of Legal Entities (USRLE).

As reported, TCS Group is currently re-registering from Cyprus to the SAR on Russky Island, Vladivostok City District, Primorye, Russia. TCS Holding's shares will be listed on the Moscow Exchange as one of the results of re-registering, and there are not any plans for listing GDRs or shares on other alternative exchanges.

As assumed, the equity capital of the group would be in rubles at 199,305,492 ordinary shares, with the par value of the shares being equal to the par value in dollars at $0.04 at the exchange rate of the Central Bank of Russia (CBR) as on December 12, 2023, at 3.64 rubles per share.

The CBR in early February registered the issue and prospectus of ordinary shares of IPJSC TCS Holding. As assumed, the decision on state registration of the issue and prospectus of the company's shares would come into force as on the date of the registration.

The companies of Vladimir Potanin's Interros group previously re-domiciled to the SAR on the far eastern Russky Island. Interros Group is TCS Group's principal shareholder with a 35% stake, having purchased the stake from the group's founder, Oleg Tinkov, in April 2022.