Support The Moscow Times!

QIWI Files for $100M IPO on Nasdaq

Russian payment-transfer company QIWI filed with U.S. regulators to raise up to $100 million from an initial public offering of its American Depository Shares.

The company, which counts Japan's Mitsui & Co among its shareholders, did not reveal the number of ADSes it planned to offer or their expected price.

Russian Internet group Mail.ru, which co-founded QIWI in 2007, owns 21.4 percent of the company's shares.

Reuters reported in December that Qiwi, 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.

QIWI, which plans to apply to list on the Nasdaq under the symbol "QIWI," named J.P. Morgan Securities and Credit Suisse as lead underwriters to the offering, in a filing with the U.S. Securities and Exchange Commission.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

Related articles:

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysiss and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more