Qiwi Plans IPO

Payment-transfer company Qiwi picked Credit Suisse and JPMorgan for a New York initial public offering, which it plans for the middle of next year, three sources familiar with the matter said.

The company, which operates in 22 countries in Europe, Asia, Africa and the Americas, plans to sell between 25 and 30 percent of its shares in a deal that would value it at $1 billion, the sources said.

Qiwi chairman Andrei Romanenko declined to comment. A company spokeswoman said the company could become public in the long term, but she denied that there were immediate plans for an IPO.

Russian companies often prefer London over New York as the venue for their overseas listings. The $1.4 billion IPO last year by the country's most popular search engine, Yandex, was the most notable recent exception. (Reuters)

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