- Payment and financial services provider QIWI PLC (NASDAQ: QIWI) agreed to sell its stake in JSC Tochka to Bank Otkritie Financial Corporation PJSC.
- QIWI will sell a 40% stake in the capital of Tochka, which represents a 45% economic interest in the company.
- QIWI’s stake has a valuation of RUB 4.95 billion.
- Otkritie Bank owns 41.0% of QIWI’s shares, representing 13.7% of the voting power.
- QIWI, Otkritie Bank, and Tochka’s management team established QIWI’s equity associate Tochka in June 2018.
- QIWI Bank and Otkritie Bank provide banking services to Tochka clients, while Tochka handles IT infrastructure, support, and related services.
- Price action: QIWI shares traded higher by 3.19% at $10.36 on the last check Wednesday.
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