Qiwi climbs in 1st day as a public company

Payment services provider Qiwi rises in 1st day of trading on the Nasdaq

Associated Press

NEW YORK (AP) -- Shares of Qiwi rose slightly in their first day of trading on the Nasdaq.

The payment services provider's stock added 10 cents to $17.10 in Friday morning trading.

Qiwi PLC's initial public offering of 12.5 million Class B shares raised $212.5 million, with the IPO's size boosted from 12 million shares.

The offering priced at $17 per American depositary share, the midpoint of the expected $16 to $18 range. One ADS is equal to one Class B share. All of the American Depositary Shares are being offered by selling stockholders.

Undewriters have a 30-day option to buy up to about 1.9 million more shares to cover excess demand.

Qiwi, whose services are offered in Russia and the Commonwealth of Independent States, is trading under the ticker symbol "QIWI."

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