will even increase
The bill on collection in Russia is subject to change. This initiative was made by the Prosecutor General, who has to process a shaft of complaints from citizens about illegal actions of collectors. According to the Prosecutor General, the sphere needs to be licensed instead of the previously planned creation of a self-regulatory institution.
The volume of overdue monetary obligations of citizens to banks reached 310.2 billion rubles. By July of this year, collectors had sold overdue debts worth more than 86 billion rubles. Over the past year, the cession market has grown by 30%. In 2011, we bought debts of 78.7 billion rubles, while in 2010 the total amount was 60.2 billion rubles.
A separate law that would govern the implementation of collection activities in Russia does not exist. So far, only the bill “On the collection of overdue debts”, which is being developed by the Ministry of Economic Development of the Russian Federation, is in force. However, he has not yet entered either the government or the State Duma. According to the latest edition, a self-regulatory organization should deal with the control of market participants. Continue reading
Qiwi PLC payment system intends to place the second part of depositary shares on the exchange. Experts and traders were waiting for this step, so the news on the market did not cause any hype. The value of the shares is estimated at approximately $ 280 million. The company itself will not receive funds from their sale, and Qiwi shareholders can earn $ 279.1 million in SPO.
Shareholders of the Qiwi PLC processing company, which owns the payment system of the same name, plan to float 8,197,866 American Depository Shares (ADS) on the exchange, for which the same number of ordinary Class B shares are held. According to the US Securities and Exchange Commission, underwriters are given the option to oversubscription of 1.229 million subscriptions. The only bookrunner is Credit Suisse, writes Expert.ru.
The company’s prospectus says that Japan’s Mitsui should become the largest seller of securities: it is ready to sell 3.5 million shares of its existing 5.74 million to investors. If demand exceeds supply, the organizing banks will have the right to redeem from shareholders and replenish an additional package ADS, then Mitsui will sell a total of more than 4 million shares and its stake in Qiwi (in votes) will decline from the current 14.4 to 5.9%, Vedomosti noted. Continue reading