London – Russian media firm Mail.ru Group, whose investments
include Facebook and Zynga, has announced pricing for its forthcoming IPO on
the London Stock Exchange.
Formerly known as Digital Sky Technologies, Mail.ru
Group will sell 16% of its shares for between $23.70 and $27.70, in an offering
that hopes to raise up to $876 million and would give the company an equity
value of between $4.86 billion and $5.71 billion.
The company owns 2.38% of
Facebook, 1.47% of Zynga and 5.13% of Groupon.
Mail.ru Group said it will use some of the
proceeds from the share offering to acquire an additional 7.5% stake in Russian
social network Vkontakte.