Payment services company Qiwi has been granted an extension by Nasdaq to complete the restructuring of its business, according to a statement from the payment system's press service. The company aims to finalize the separation of its business into Russian and international segments to maintain its listing status by November 11, 2023. This extension request was made as Qiwi needs regulatory approvals for the sale of its Russian assets.
Qiwi plc has already met Nasdaq's primary conditions for restructuring. It has conducted an assessment of all its resources in Russia through an independent appraiser, consolidated assets under the Qiwi umbrella, and published interim financial reports for the first half of 2023.
Trading in Russian stocks on the Nasdaq exchange has been suspended since February 28 of last year.
