LONDON/MOSCOW, Nov 5 (Reuters) - Russian Facebook investor Mail.ru priced its London listing at $27.7 per share on Friday, the top of its price guidance, raising $912 million for the internet firm.
Mail.ru said it had sold 32.93 million shares in the initial public offering (IPO), representing a 17 percent stake in the company prior to an overallotment option.
Books on the listing were covered on the first day of bookbuilding and closed a day early due to strong demand. The book was 20 times oversubscribed at top end of range, according to one financial market source.
Demand came mostly from U.S. and British technology focused funds, a source close to the offer said.
The listing values the company at $5.71 billion, making it Europe’s largest listed internet business. (Reporting by Kylie MacLellan in London, Maria Kiselyova and Olga Popova in Moscow)
Our Standards: The Thomson Reuters Trust Principles.