MOSCOW Feb 28 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
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.