Why QIWI (QIWI) Is Down Today

NEW YORK (TheStreet) -- QIWI (QIWI) fell -7.5% to $44.00 Tuesday after filing for a secondary offering of Class B shares.

The company filed for a proposed underwritten public offering of 7,973,300 Class B shares represented by ADSs. QIWI will sell 1,993,330 Class B shares in the offering, and certain shareholders will sell the remaining 5,980,000 Class B shares.

QIWI will use the proceeds from the offering for general corporate purposes.

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

QIWI Chart

QIWI data by YCharts

"QIWI plc. is a provider of payment services in Russia and Commonwealth of Independent States (CIS). The Company has an integrated network that enables payment services across physical, online and mobile channels. In December 2013, the Company announced that it has completed the acquisition of Blestgroup Enterprises Limited."

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

 

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

More from Markets

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists