Usmanov sells Mail.Ru stake at $34.25/shr

MOSCOW Thu Feb 28, 2013 4:06am EST

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MOSCOW Feb 28 (Reuters) - Russia's richest man, Alisher Usmanov, has sold a 7.4 percent stake in Russian internet group Mail.Ru at the price of $34.25, valuing the stake at around $530 million, the selling shareholder said in a statement on Thursday.

London-listed Mail.Ru said in a filing on Wednesday that a company controlled by Usmanov called Ardoe Finance Ltd will place 15.5 million Mail.Ru global depositary receipts.

A market source earlier said the range for the share placement was $34.25 to $36 a share, a discount of 4-8 percent to Wednesday's closing price of $37.4.

Morgan Stanley acted as sole bookrunner in respect of the placement, the statement said.