Shareholders of the Dodo Pizza holding approved redomiciliation to Kazakhstan
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Shareholders of the holding company of the Dodo Pizza pizzeria chain – Dodo Brands – agreed on the redomiciliation from the British Virgin Islands to Kazakhstan. This was previously recommended by the company’s board of directors.
“By the decision of the shareholders dated January 26, 2024, by absentee voting, the redomiciliation of the holding company DP Global Group Limited from the British Virgin Islands to the Astana International Financial Center was approved,” Dodo Brands said in a statement, as cited by Prime.
Today, March 20, DP Global Group Limited (“Dodo Pizza”) announced the launch of a share repurchase program in 2024 (.pdf). She intends to allocate up to 300 million rubles. for the repurchase of own shares and options at a price of 3 thousand rubles. per share.
On March 18, Dodo Pizza published its income data. Company revenue at the end of 2023 amounted to 84 billion rubles. This figure is 1.5 times higher than the 2022 result.
The Dodo Brands company owns the Dodo Pizza pizzeria chain, Drinkit coffee shops and Doner 42 cafes. The company’s founder, Fedor Ovchinnikov, opened the first Dodo Pizza location in 2011 in Syktyvkar. At the end of December 2023, the network consisted of 1,027 retail outlets. In July 2023 he announced about resigning from the post of General Director. His successor in 2024 was the head of Dodo Brands in the USA, Alena Tikhova.
Other companies have previously announced redomiciliation to Kazakhstan. Thus, in November last year, shareholders of the retailer Fix Price approved re-registration from Cyprus.
Read more about why companies move to other countries in the Kommersant article. “Get abroad at any cost”.
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