Mail.ru Announces IPO by End of 2010
The most popular Russian site on the web, Mail.ru, is making their initial public offering by the end of the year. Little is known about the upcoming public offering, but it looks like it’ll be a strong entrance according to Reuters,
The company is seeking to raise more than $500 million, a source close to the deal told Reuters, adding it would offer around 15 percent of its share capital.
The offering is expected to consist of outstanding shares in the form of Global Depositary Receipts from existing shareholders and is expected to be completed by the end of 2010, subject to market conditions, Mail.ru said in a statement.
Mail.ru has been operating under that name since October 2001. As the most popular Russian site today they managed to reach an Alexa score of 29 in 2009. With so much popularity and a smorgasbord of Internet portal and provider services, they should look very tasty to public investors.
In other news, Hulu is after an IPO as well. Other companies anxious for public participation on raising funds include Skype and Facbook, two companies that may be working very well together moving forward.
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