Mail.ru Group has established a range of its initial public offering in London in the amount 23,7-27,7 per diluted share, reported Reuters. Thus, the company is valued at 4,78-5,63 billion.
Pricing of the company will be held on November 8. Holding Company will issue to the Exchange Global Depository Receipts (GDR), which will trade under the quote “MAIL”. One GDR is equivalent to one ordinary share Mail.ru Group. Volume GDR, available for trading, are still unknown. It is noted that the stock market will go shares in the form of GDR, are currently the shareholders.
The intention to leave the London Stock Exchange Mail.ru Group announced on October 11, saying that the deployment will take place before the end of 2010. Coordinators will be the IPO banks Goldman Sachs International and JP Morgan. Also in the placement will be attended by VTB Capital and Morgan Stanley. After the IPO Mail.ru will be the only Russian Internet company whose shares are traded in London.
Mail.ru Group – the new name of the Russian holding company Digital Sky Technologies Yuri Milner. Mail.ru Group controls more than 99 per cent stake in Mail.ru, and also owns social networking “Odnoklassniki.ru” and “facebook” portal HeadHunter, as well as instant messenger ICQ.
In early October it became known that among the assets Mail.ru Group were made 2.4 percent stake in Facebook, and share holding DST Global in the service of collective purchases Groupon and producer of online games Zynga.
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