Russian Payment Company Qiwi Raises $213 IPO

By PYMNTS | May 5, 2013

Russian payments company Qiwi has raised $213 million through an initial public offering of 12.5 million shares at $17 each, Bloomberg reports.

Qiwi allows merchants to accept cash and ePayments from up to 65 million people per month in addition to managing 11 million Visa co-branded virtual wallets. Qiwi also controls cash-collecting terminals and kiosks. Qiwi bcomes the second Russian company to raise an IPO this year, following Moscow Exchange. The company had originally planned for an IPO of $100 before raising the offering.