• IS provokes sea-change

    It has been a grave mistake to defy both Russia and France, says Leopold Scholtz.

  • Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

All data is delayed
See More

Mail.ru stake for sale, Naspers holds on

Apr 27 2011 11:45

Company Data


Last traded 2143
Change -57
% Change -3
Cumulative volume 937782
Market cap 0

Last Updated: 27-11-2015 at 05:05. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Media24 chief quits to lead unit buyout

Naspers falls further on Tencent jitters

New head for Naspers MIH

Naspers up on Tencent rebound

Naspers a headline earner

Profit rise for Tencent

Moscow - Russian internet investment company Mail.ru said shareholders had launched a sale of a 6.65% stake on the market, five months after its London listing.

Mail.ru's London-listed shares were down 6.0% to $32.75 by 11:10 (SA time) on Wednesday. Shares were sold at the top of a $23.7-$27.7 range when it listed in November.

Investors had been attracted to the company partly due to its ownership of a little over 2% of Facebook, a stake that could be worth more than $1bn based on a valuation of the social networking site of $50bn.

The selling Mail.ru shareholders, including founders, members of management and fund Tiger Global, will place a total of up to 13.86 million shares - a stake representing approximately 0.46% of voting rights and worth around $480m based on Tuesday's closing price.

Two financial market sources told Reuters the order book for the sale has been fully subscribed.

The company said none of the entities representing the interests of Russian billionaire Alisher Usmanov, Naspers [JSE:NPN] and Chinese company Tencent were among the selling shareholders.

The sale came ahead of the May 9 expiration of a lock-up period following its $1bn initial public offering, Mail.ru said, adding the selling shareholders have entered into a new lock-up agreement for 90 days from the sale completion.

JP Morgan and VTB Capital were acting as joint bookrunners for the placement which will fetch no proceeds for Mail.ru itself.

- Fin24.com is owned by Naspers.


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote