QIWI To Sell Stake In Tochka Project To Bank Otkritie

July 21, 2021 10:20 AM | 1 min read | Make a Comment

Payment and financial services provider QIWI PLC 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.