The Moscow Arbitration Court rejected the seizure of shares of JSC Qiwi as an interim measure on behalf of the Deposit Insurance Agency (DIA) in a lawsuit against the company’s owners. This has been reported Interfax.
Following the court decision, Qiwi revenues on the Moscow Stock Exchange increased by 6.41%, reaching 224 rubles per bond, as of 18:19 Moscow time. As of 19:50, growth slowed to 3.8%, or 215.5 rubles.
The petition to seize QIWI shares was filed by the DIA on March 18 as part of legal proceedings relating to the agency’s lawsuit against Qiwi plc and Fusion Factor Fintech Limited. On March 4, DIA filed a lawsuit seeking to challenge the agreement for the sale of Qiwi shares and to invalidate the share pledge and encumbrance agreement.
In January 2023, the Qiwi group sold its Russian assets, including QIWI Bank, to the Hong Kong company Fusion Factor for 23.75 billion rubles. According to the terms of the agreement, Qiwi will have the right to transfer the shares of Fusion Factor and Qiwi JSC if the buyer cannot make the full payment.
February 21 Bank of Russia recalled License from QIWI Bank for violation of regulatory requirements and anti-money laundering legislation. An interim management was introduced at the bank, whose duties were transferred to DIA.
Previously Nabiullina in the name The reason why QIWI Bank’s license was revoked.