Friday, May 03, 2013 11:28 am
Qiwi climbs in 1st day as a public company
The Associated Press
The payment services provider's stock added 10 cents to $17.10 in Friday morning trading.
Qiwi PLC's initial public offering of 12.5 million Class B shares raised $212.5 million, with the IPO's size boosted from 12 million shares.
The offering priced at $17 per American depositary share, the midpoint of the expected $16 to $18 range. One ADS is equal to one Class B share. All of the American Depositary Shares are being offered by selling stockholders.
Undewriters have a 30-day option to buy up to about 1.9 million more shares to cover excess demand.
Qiwi, whose services are offered in Russia and the Commonwealth of Independent States, is trading under the ticker symbol "QIWI."