QIWI Announces Cancellation of Proposed Secondary Offering
QIWI plc announced that its selling shareholders have decided to cancel the previously planned secondary offering of Class B shares due to unfavorable market conditions. This decision highlights the current volatility in the market, affecting the ability to execute such financial maneuvers. QIWI is a prominent payment service provider in Russia and the CIS, boasting over 21.8 million virtual wallets and processing over RUB 123 billion in cash and electronic payments monthly. The press release also contains forward-looking statements, cautioning about potential risks and uncertainties.
- QIWI has a significant user base with over 39 million monthly active consumers.
- The company processes substantial monthly payments exceeding RUB 123 billion.
- The cancellation of the secondary offering indicates market volatility and potentially unfavorable conditions for capital raising efforts.
NICOSIA, Cyprus, July 22, 2020 (GLOBE NEWSWIRE) -- QIWI plc (Nasdaq:QIWI) (“QIWI” or the “Company”) announced today the decision of its selling shareholders not to proceed with the previously announced secondary offering of the Company’s Class B shares represented by American Depositary Shares at this time due to market conditions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About QIWI plc.
QIWI is a leading provider of next generation payment and financial services in Russia and the CIS. It has an integrated proprietary network that enables payment services across online, mobile and physical channels. It has deployed over 21.8 million virtual wallets, over 127,000 kiosks and terminals, and enabled merchants and customers to accept and transfer over RUB 123 billion cash and electronic payments monthly connecting over 39 million consumers using its network at least once a month. QIWI’s consumers can use cash, stored value and other electronic payment methods in order to pay for goods and services or transfer money across virtual or physical environments interchangeably.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995. These statements involve significant risks and uncertainties, including those discussed in the preliminary prospectus supplement related to the cancelled offering and in our annual report on Form 20-F for the fiscal year ended December 31, 2019 and in our other filings with the SEC. Because these statements reflect our current expectations concerning future events, our actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors. QIWI is providing this information as of the date of this release. QIWI undertakes no duty to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements or of anticipated or unanticipated events that alter any assumptions underlying such statements.
FAQ
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