Russian payment service provider QIWI sets terms for $204 million IPO

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QIWI, a leading provider of payment services in Russia, announced terms for its IPO on Friday. The Nicosia, Cyprus-based company plans to raise $204 million by offering 12 million shares at a price range of $16 to $18. At the midpoint of the proposed range, QIWI would command a market value of $884 million. 

QIWI, which was founded in 2004 and booked $293 million in sales for the 2012 fiscal year, plans to list on the NASDAQ under the symbol QIWI. QIWI initially filed confidentially on 11/5/2012. J.P. Morgan and Credit Suisse are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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