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first_img Show Comments ▼ London float for Russian internet firm It also owns a 2.38 per cent stake in Facebook and small minority interests in several other Russian and international internet firms. The group said it was keen to cash in on the potential growth offered by the more than 250m Russian speakers worldwide.Chief executive Dmitry Grishin said: “We believe we are well-positioned to benefit from the expected growth of the Russian internet advertising market.” The listing is expected to take place in London Stock Exchange before the end of this year. A Russian internet service provider part-owned by billionaire Alisher Usmanov is floating on the London market to raise an estimated $500m-$750m (£314.7m-£472.1m).Usmanov and other investors in Mail.ru Group plan to offer up to 15 per cent of the group’s share capital, giving it a market value of about $5bn, a source close to the deal said.Usmanov owns an undisclosed stake in Mail.ru along with shareholders including South Africa’s Naspers, the company’s management team, Chinese internet group Ten Cent and Goldman Sachs. Usmanov and other investors are understood to be keen to make shares in the company more widely available in a major European financial market such as London.Chairman Yuri Milner said: “We are proud to have reached this important milestone in our company’s development.”Mail.ru is the biggest internet company in high-growth Russian-speaking internet markets, reaching about 70 per cent of Russian internet users per month, and claims to be the world’s seventh biggest internet business, based on page views. The group, incorporated in the British Virgin Islands, runs two of the three biggest Russian language online social networking sites as well as instant messaging, email and online gaming services. KCS-content whatsapp Share Tags: NULL More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Monday 11 October 2010 8:49 pmlast_img read more