Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Qiwi Owners Including Mail.ru to Sell Shares Up To $315 Million

Sept. 18 (Bloomberg) -- Qiwi Plc, a Russian electronic-payment operator, said its investors plan to sell as much as $315 million worth of shares, after the stock almost doubled since an initial public offering in May.

They will sell as many as 9.4 million shares for as much as $33.395 apiece, Qiwi said in a regulatory filing dated yesterday. Billionaire Alisher Usmanov’s Mail.ru Group Ltd. will sell 2.1 million shares, Japan’s Mitsui & Co. will sell 3.5 million shares, and the rest will be offered by management and smaller shareholders. Credit Suisse will manage the offering.

Qiwi operates cash-collecting terminals and online-payment systems, and processes payments for more than 54,000 merchants. Managers led by Chief Executive Officer Sergey Solonin control almost 60 percent of Qiwi’s voting shares.

Qiwi’s second-quarter adjusted net revenue rose 62 percent from a year earlier to 1.56 billion rubles ($48.4 million), the company said in an August statement. The company also approved a dividend of 32 U.S. cents a share, and raised its forecast range for growth in adjusted net profit this year to 35 percent to 40 percent, compared with previous guidance of 27 percent to 33 percent.

Qiwi shares declined 3.2 percent to $32.97 at 11:15 a.m. in New York trading.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.