Home > techcrunch > Facebook, Groupon And Zynga Investor Mail.ru (aka, DST) Shoots For $5.7B In IPO

Facebook, Groupon And Zynga Investor Mail.ru (aka, DST) Shoots For $5.7B In IPO

October 25th, 2010 10:57 admin Leave a comment Go to comments

Mail.ru Group, formerly known as Digital Sky Technologies and notable investor in Internet sensations Facebook, Groupon and Zynga, among others, has filed for a $876 million IPO on the London Stock Exchange that would value the investment firm at roughly $5.7 billion.

That valuation is higher than expected (earlier reports predicted a $5 billion valuation).

Mail.ru, which includes largely Russian e-mail, social-networking and gaming sites, will float just over 3 million new shares and 28.59 million existing shares in the form of global depositary receipts at between $23.70 and $27.70 per GDR, it said in a regulatory disclosure.

Part of the proceeds of up to $876 million (which, for your reference, is a bit more than Facebook has raised since its founding) from Mail.ru Group’s IPO will be used to increase the company’s stake in Russia’s biggest social-networking website, vKontakte.ru, reports Russian business paper Vedomosti.

Mail.ru Group, which already owns social network Odnoklassniki.ru and ICQ, plans to buy a 7.5% stake in vKontakte for $112.5 million, valuing the site at $1.5 billion.

Mail.ru Group shareholders include Russian billionaire Alisher Usmanov, South African media company Naspers, China’s Tencent, Goldman Sachs, Tiger Global Management and DST founder Yuri Milner.

Goldman Sachs and J.P. Morgan Chase are acting as joint global coordinators for the IPO, and the banks are working with Morgan Stanley and VTB Capital as joint book-runners.

Source: Facebook, Groupon And Zynga Investor Mail.ru (aka, DST) Shoots For $5.7B In IPO

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