Qiwi Group has requested Nasdaq to push back its restructuring deadline to November 11, 2023, according to the company’s official communications and press releases. The extension is sought to allow additional time for the final phase of disposing Russian assets, which requires clearance from regulatory authorities.
Qiwi notes that the core steps of asset sales have been completed. An independent appraiser prepared a formal valuation of all Russian assets slated for transfer from Qiwi plc to Qiwi JSC, and assets have been consolidated under the Qiwi JSC umbrella. This consolidation marks a significant milestone in the group’s transition plan and aligns with the objective of reorganizing the corporate structure to separate Russian and international activities.
Earlier in the year, the company highlighted that the first phase of the restructuring had been completed, with Russian assets fully consolidated under a local legal entity. The plan anticipated a clear delineation between Russian and international holdings by September 2023, followed by a broader separation of operations across jurisdictions.
Prior to these steps, Qiwi disclosed intentions to bifurcate its business into international and Russian segments, a move designed to streamline governance and regulatory compliance across markets.
In February, Roskomnadzor formally added Qiwi to the roster of information dissemination organizers, reflecting regulatory oversight of the company’s communications and data handling in Russia.
In related industry news, Red Wings Airlines announced the initiation of a new air route linking Moscow with Georgia, illustrating ongoing expansion activity in the broader transport and logistics sector that coincides with shifts in regional business strategies. [attribution: Qiwi Group press releases; Roskomnadzor notices; industry updates]