The head of Tinkoff Bank announced the timing of the re-registration of TCS Group in Russia – Kommersant
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Re-registration of TCS Group (parent structure of Tinkoff Bank (MOEX: TCSG)) from Cyprus to the Russian Special Administrative Region to Russky Island in Vladivostok could be completed by the end of the first quarter of 2024. Stanislav Bliznyuk, Chairman of Tinkoff Bank, spoke about this.
“All redomiciliation procedures should be completed quite quickly – I think that this should happen within the first or early second quarter. Then the shareholders will try to return to the question of whether it is worth paying dividends, or whether they should be spent on development, on M&A. We have the technical ability, we have the financial ability (to pay dividends.— “Ъ”). More precisely, there will be a technical possibility after redomiciliation,” said Bliznyuk (quoted from RBC).
The fact that TCS Group plans to change jurisdiction, became known in November last year. Final decision on redomiciliation from Cyprus to Russia shareholders of TCS Group accepted January 15. Against this background, the cost of depositary receipts of TCS Group on the Moscow Exchange during trading rose by 2.62% – to 3,443 thousand rubles. for paper.
TCS Group is the parent company of Tinkoff Bank and Tinkoff Insurance. Group net profit for the nine months of 2023 amounted to 60.2 billion rubles, which is 5.7 times more than the result for January-September 2022 (10.5 billion rubles)
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