MOSCOW, Sept 25 A director in Russian internet
group Mail.Ru has sold his entire stake in the
company, raising $408 million in an accelerated bookbuilding
deal, the company said in a regulatory filing on Tuesday.
Grigory Finger, who co-founded the company with Facebook
backer Yuri Milner, sold 12 million Global Depositary
Receipts (GDRs) at a price of $34, the company said.
The deal was organised by Credit Suisse and Renaissance
Capital, who placed the stake with a range of institutional and
professional or qualified investors, market sources said.
The GDRs were priced at a discount to Monday's closing price
of $36, while Mail.Ru shares changed hands on Tuesday at $33.80,
just below the placement price.
Mail.Ru operates two of the three largest Russian language
social networks, Odnoklassniki and Moi Mir.
It is 25.3 percent owned by Russia's richest man Alisher
Usmanov. South Africa's largest media and e-commerce company,
Naspers, has a 29 percent stake, and China's Tencent
owns 7.8 percent.