Mail.ru Holders Sell Stake

By The Moscow Times

April 27, 2011

Internet investment company Mail.ru said Wednesday that shareholders had begun the sale of a 6.65 percent stake, five months after its London listing.

The selling Mail.ru shareholders, including founders, members of management and fund Tiger Global, will place a total of up to 13.86 million shares — a stake representing about 0.46 percent of voting rights and worth about $480 million. Two market sources said the order book for the sale was fully subscribed.

The company said no entities representing the interests of businessman Alisher Usmanov, South African group Naspers and Chinese company Tencent were among the selling shareholders. JPMorgan and VTB Capital were acting as joint bookrunners for the placement, which will fetch no proceeds for Mail.ru itself.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue