Mail.ru prices IPO at top of range, shares soar

News Broadband Russian Federation 8 NOV 2010
Mail.ru prices IPO at top of range, shares soar
Russian internet group Mail.ru priced its initial public offering at the top end of the range, raising USD 912 million. The company sold 32.93 million ordinary shares, in the form of GDRs, at USD 27.70 per GDR, and the bookrunners have the option to sell another 3.3 million shares in the next 30 days. Without the extra allotment, 17 percent of Mail.ru's shares will be listed. Mail.ru's share of the proceeds from the IPO will be USD 84 million, with the remainder going to selling shareholders. The company plans to use the money to increase its stake in social network Vkontakte. In its first day of trading on the London Stock Exchange, the company's shares rose 30 percent.

Categories:

Internet

Companies:

Mail.ru,  Vkontakte

Countries:

Russian Federation

Tags:

Shareholders & subsidiaries, Portals / social media, Financial funding

Related Articles

RUSSIAN FEDERATION 16 SEP 2014

Mail.ru raises stake in VKontakte to 100%

Russian internet company Mail.ru Group announced that it has acquired the remaining 48.01 percent of Russian social network VKontakte, raising its stake to 100 percent. The deal closed on 16 September, for an amount of USD 1.47 billion. The shares were acquired from Blesmir Development Limited and Palagon Limited. Mail.ru funded the deal with its existing cash and a RUB 22.2 billion loan from Gazprombank. In 2013, VKontakte had revenue growth of 14 percent to RUB 3.8 billion, EBITDA up 32 percent to RUB 1

RUSSIAN FEDERATION 29 OKT 2010

Mail.ru IPO oversubscribed - report

Mail.ru Group's initial public offering is up to two times oversubscribed with nearly two weeks left before pricing, financial market sources told Reuters. Fund managers said the organizers put total bids as of late 26 October at USD 1.1 billion. Mail.ru was looking to raise up to USD 876 million in the sale of 16 percent of its shares in a London IPO to be priced on 8 November. Another financial market source said that by 27 October the book was two times oversubscribed, including bids at market. The compa

RUSSIAN FEDERATION 26 OKT 2010

Mail.ru sets price range for IPO

Russian internet company Mail.ru announced pricing for its upcoming initial public offering of shares on the London Stock Exchange. The company set a price range of USD 23.70-27.70 per GDR, implying an equity value for the group of USD 4.78-5.63 billion prior to the IPO and USD 4.86-5.71 billion after the issue of new shares. Trading under the ticker MAIL, each GDR will represent an interest in one ordinary share of the company. The offering includes 3.03 million new shares in the form of GDRs and a sale of

Just In

20 DEC 15:08

Dialog Axiata to offer Starlink satellite service across Sri Lanka

20 DEC 14:51

Sri Lanka raises LKR 10 billion in 5G spectrum auction

20 DEC 14:00

Vi introduces Niyo Zero Forex Markup Card for travelers

20 DEC 13:39

True reshuffles executive team

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.