Mail.ru Files For An IPO On The London Stock Exchange

Mail.ru has filed to go public on the London Stock Exchange. Mail.ru, also known as Digital Sky Technologies, has preparing for the IPO since May 2009. Mail.ru said that they are “well positioned to benefit from the expected growth of the Russian internet advertising market and the increase in internet value-added services.” Some of the proceeds earned from the IPO would be used to increase their stake in Russian social network vKontakte to 32.49% from 24.99%. Mail.ru hopes to raise $876 million from the IPO, giving them a $5.7 billion valuation. Mail.ru has equity in Facebook, Groupon, and Zynga through Digital Sky Technologies. [paidContent]

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