Fix Price undergoes structural changes that could signal its intention to move to Russia

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Business News Correspondent
Fix Price could redomicile from Kazakhstan to Russia / Photo: Shutterstock, photo editor: Milosh Muratovskiy

The Russian retailer Fix Price has become the owner of a 100% stake in Best Price, an operational subsidiary of the retailer, and a 1% stake in Best Price Export. Previously, both stakes were controlled by Fix Price plc, a holding structure registered in Kazakhstan. According to analysts from the Russian broker BCS World of Investments, this structural change appear to be a technical preparation for redomiciling to Russia.

«Fix Price reported that it was reviewing a scenario for listing its Russian subsidiary on the Moscow Exchange (MoEx) and considering the exchange of receipts for the current entity registered in Kazakhstan with Russian ones. No additional details or decisions have been revealed, though,» the BCS analysts said.

They believe that if Fix Price decides to move to Russia, it is unlikely that it will pay special dividends for past years, although it may resume regular payments in the future.

The value of Fix Price’s shares on MoEx soared by nearly 13% to $1.98 per share, as reported by Forbes. At the same time, the company’s receipts on the Astana Stock Exchange (AIX) slipped by 0.79% to $1.26 per unit.

In July 2024, Fix Price moved from Cyprus to the Astana International Financial Centre. At the time, the company’s press service insisted that the move was aimed at eliminating some hurdles related to dividend payouts. On October 16, 2023, global depository receipts by Fix Price were approved for trading on AIX.

On January 3, 2025, the Russian central bank reclassified Fix Price receipts from the first tier of listing on MoEx to the third tier. From now on, only qualified investors are eligible to buy the company’s stock. Fix Price is the largest operator of fixed-price retail stores in Russia. As of late September, the company’s network covered 6,891 stores in Russia and CIS countries, including Belarus, Georgia and Kazakhstan.

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