Facebook’s Russian investor, Mail.ru Group, has been valued at a minimum of $5 billion ahead of planned London initial public offering, sources said Tuesday.
Mail.ru, whose placement might help set a benchmark for other Russian Internet firms, announced its intention to float Monday, with sources saying 15 percent of shares could be up for grabs.
“The lowest boundary of the valuations of Mail.ru Group among everyone is no less than $5 billion,” a source close to the placement said.
A source in financial markets said one of the bookrunners, VTB Capital, had valued the group at $5 billion to $5.5 billion. That would put the value of a 15 percent stake at $750 million to $825 million.
Mail.ru, previously known as DST, is expected to begin a roadshow and open the order book on Oct. 25 and price in early November.