QIWI share price fell to historic lows

The value of QIWI shares fell to a historically low level after Russian President Vladimir Putin appointed the non-bank credit organization Mobile Card as a single center for accounting for betting bets transfers from bookmakers and sweepstakes.

According to the Moscow Exchange, today by 17:30 Moscow time the price of one QIWI security has reached 657 rubles. This is the lowest value since the company’s IPO, which took place in 2013. The previous minimum was at 690 rubles. was recorded in May 2016.

Overall, QIWI shares fell more than 7% today compared to the close of previous trading. Then the price of the paper was 706.5 rubles. During the day, the value of the company’s shares reached 717 rubles.

The value of QIWI shares began to fall against the backdrop of an order from Putin, according to which QIWI did not become a single center for accounting for transfers of bets between bookmakers and sweepstakes. Instead, a “Mobile Card” was assigned. The presidential decree comes into force on September 1, 2021.

In December last year, Putin signed a law on the creation of a public-law company, the United Gambling Regulator, in the country. It will monitor and direct targeted payments from bookmakers in favor of sports federations and professional leagues, which previously each organizer of gambling did with the assistance of self-regulatory organizations, as well as monitor the implementation of laws in the field of online gambling and, in case of violation, report to the authorized bodies. … Thus, a single center will replace other operators. QIWI, on the other hand, is currently the operator of one of the centers for accounting for transfers of interactive rates (CUPIS). “Mobile card” is an operator of another MCCIS.

In December, QIWI told Kommersant about its intention to appeal to the Russian government with a proposal to create on its base a single center for accounting rates of bookmakers. Then the company noted that they already have a technological platform for this.

.

Facebook
Twitter
LinkedIn
Pinterest
Pocket
WhatsApp

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent News

Editor's Pick