Deals
Russia’s Mail.ru Surges 30% After $912 Million IPO
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Mail.ru Group Ltd., a Russian investor in Facebook Inc., surged 30 percent in London trading after raising $912 million in the city’s biggest initial public offering since July.
The operator of Russian social-networking sites and online game platforms climbed $8.30 to $36 today. The Moscow-based company and its existing shareholders sold 32.9 million global depositary receipts at $27.70 each, the top end of the $23.70 to $27.70 offering range, according to a Regulatory News Service statement. Mail.ru had orders for 20 times the shares available in the IPO, said two people familiar with the transaction, who declined to be named because the information isn’t public.