Russian web venture weighs up $876m float

first_imgMonday 25 October 2010 8:28 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap MAIL.RU, a Facebook investor and web business, is looking to raise up to $876m (£558m) by offering a 16 per cent stake in a planned London initial public offering (IPO) which could pave the way for other Russian internet firms to float.However, most of the money will go to the current shareholders rather than the company, whose revenues reached $108.7m in the first half of this year.Mail.ru, which holds a 2.38 per cent stake in Facebook, said yesterday it would sell 3.03m new shares in the form of global depository receipts (GDRs) and 28.59m shares held by current shareholders in the IPO at between $23.70 and $27.70 each.The pricing would put Mail.ru’s pre-placement value between $4.78bn and $5.63bn, with the listing – equal to around 16 per cent of its shares – set to bring in between $749m and $876m. Billionaire and Arsenal football club investor Alisher Usmanov owns around 34 per cent of Mail.ru. KCS-content Russian web venture weighs up $876m float whatsapp Share Show Comments ▼ whatsapp Tags: NULLlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *