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Site May Sell a Bit of Itself

Vkontakte may sell a small stake ahead of an initial public offering in 2012 or 2013, its co-founder told Gazeta.ru on Wednesday, as it seeks to cash in on the huge popularity of Russian Internet initial public offerings.

"We think it will be possible to proceed with an IPO in 2012 or 2013," Pavel Durov told Gazeta.ru.

"We may sell a small stake — about 3 percent — before the IPO in order to increase the market capitalization of the company," he said, adding that there were no ongoing talks to sell the stake to Mail.ru, Yandex or Google.

(Reuters)

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