Qiwi sells Russian business to Group CEO Andrey Protopopov

Qiwi is selling its Russian assets to Fusion Factor Fintech Limited, a Hong Kong-based company owned by Qiwi's current CEO, Andrey Protopopov. Amount of the transaction is ₽23.75 billion. Sale has already been approved by Russian regulators and Qiwi's board of directors. Upon completion, the company will conduct a buyback of ADSs on Nasdaq and the Moscow Exchange. Qiwi will purchase up to 10% of its securities on the market at a price not exceeding ₽581 per share.