Asbis sets up Russian subsidiary

WSE-listed IT company Asbis has set up Asbis Cloud, its Russian subsidiary, the company said in a market filing. Initial capital has been set at RUB 8 million, Asbis holds 85 percent stake, while the remaining 15 percent is controlled by the subsidiary’s managing director Alexey Krutitsky. The company was created to support the growing group business of large cloud projects and data centers in Russia.