May 3, 2013 / 3:00 PM / 5 years ago

Shares of Russia's QIWI open flat in Nasdaq debut

May 3 (Reuters) - Shares of Russian payment transfer company QIWI Plc rose as much as 2 percent in their market debut, valuing the company at about $901.1 million.

The company priced its enlarged offering of 12.5 million American depository shares (ADS) at $17 each, raising $212.5 million. Each ADS represents one class B share of the company.

QIWI, which provides payment services across physical, online and mobile channels mainly in Russia, said it would not receive any proceeds from the IPO as all the shares in the offering would be sold by its stockholders.

Online money transfer company Xoom Corp has gained 20 percent since it went public in February.

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