Russian-Chinese B2B platform Qifa sets IPO price range at 92-110 rubles per share

MOSCOW. July 25 (Interfax) - The Russian-Chinese B2B e-commerce platform PJSC Qifa has set the price range for its upcoming IPO at 92-110 rubles per share, the company said in a statement.

Bids will be accepted from July 25 to August 7.

Qifa said on July 10 that it intended to hold IPO before the summer is out. The company will offer investors shares from a supplementary issue.

The Central Bank of Russia has registered a supplementary issue of 29,923,077 shares, par value of 0.01 rubles, for public subscription.

Authorized capital is currently 500,000 rubles consisting of 50 million ordinary shares with par value of 0.01 rubles each, so the new issue could boost that by 54%.

Going by the price range, the company's capitalization before the new share issue is 4.6-5.5 billion rubles.