Russian Facebook investor soars on London stock debut

Nov 05, 2010
Shares in Russian Internet company Mail.ru, an investor in social networking site Facebook, surged on their London debut.

Shares in Russian Internet company Mail.ru, an investor in social networking site Facebook, surged on their London debut on Friday.

Shares in the largest in the Russian-speaking world were offered at 27.7 dollars each (19.6 euros) but leapt up over 30 percent to 37 dollars shortly after the market opened.

The shares are only being conditionally traded at the moment and will be officially available for open trading on November 11.

The company, which was 34-percent owned by Arsenal Football Club major shareholder Alisher Usmanov prior to the Initial Public Offering (IPO), raised 912 million dollars after selling all 32.9 million shares.

Almost 91 percent of the equity traded were existing shares owned by the company's founders, management and early .

The Russian company owns 2.38 percent of and was valued at 5.71 billion dollars on flotation. All of its floated shares were,p4,rgen.eco.pade covered on the first day of a two-week roadshow and ended being 20 times oversubscribed.

Explore further: Oregon sues Oracle over failed health care website

add to favorites email to friend print save as pdf

Related Stories

Shanda Games IPO gets tepid reception

Sep 25, 2009

(AP) -- Shanda Games Ltd., a Chinese video game company, raised $1 billion Friday in the largest initial public offering of the year.

Recommended for you

Oregon sues Oracle over failed health care website

8 hours ago

Oregon Attorney General Ellen Rosenblum says she's filed a lawsuit against Oracle Corp. and several of its executives over the technology company's role in the state's troubled health insurance exchange.

Google buys product design firm Gecko

8 hours ago

Google on Friday confirmed that it bought Gecko Design to bolster its lab devoted to technology-advancing projects such as self-driving cars and Internet-linked Glass eyewear.

Ticketfly buying WillCall for on-premise data

Aug 21, 2014

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

User comments : 0