It looks like Qiwi's (QIWI) IPO was priced just right (though some buyers may disagree). After...

|About: QIWI plc (QIWI)|By:, SA News Editor

It looks like Qiwi's (QIWI) IPO was priced just right (though some buyers may disagree). After pricing its 12.5M-share offering at $17, the Russian online payments leader opened at $17.13 and is currently at $17.17, up 1%. That gives Qiwi a valuation of $879M, or 33x its 2012 net income. Qiwi competes with Yandex.money - Yandex (YNDX) recently sold a 75% stake in the business to Sberbank for $60M. PayPal (EBAY) isn't a major rival right now, but that might change, given it recently won approval to function as a non-credit banking institution in Russia. (F-1) (financial data)