MAIL.RU GROUP has announced its intention to proceed with an offering of ordinary shares in the form of Global Depositary Receipts (GDRs) to be admitted to a Standard Listing on the London Stock Exchange under the ticker “MAIL”. One GDR will represent an interest in one ordinary share of the Company
The Offering is expected to consist of outstanding shares (in the form of GDRs) from existing shareholders and is expected to be completed by the end of 2010, subject to market conditions. The Company has appointed Goldman Sachs International and J.P. Morgan as Joint Global Co-ordinators and, together with Morgan Stanley and VTB Capital, Joint Bookrunners in connection with the Offering. Pacific Crest Securities has been appointed Co-lead Manager in connection with the Offering.
Yuri Milner, Chairman of Mail.ru Group said: “I am very pleased to announce our intention to list on the London Stock Exchange, and we are proud to have reached this important milestone in our Company’s development.”
Dmitry Grishin, Chief Executive Officer added: “Russia is a very exciting and fast-paced Internet market and we are proud to be at the forefront of developments here. With a highly engaged and fast growing Internet user community, our leading communications and entertainment platform targets significant growth opportunities that may arise from the more than 250 million Russian speakers worldwide. We believe we are well positioned to benefit from the expected growth of the Russian Internet advertising market and the increase in Internet Value Added Services.”
Mail.ru Group holds 2.38% shares of Facebook, 5.13% shares of Groupon and 1.47% shares of Zynga.
UK, London & Russia, Moscow
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