Chairman Milner Raises $59.5 Million in Share Sale

Yuri Milner, billionaire chairman of Group Ltd., raised $59.5 million in a share sale of the largest Internet company in the Russian-speaking world based on monthly users.

Milner sold 1.7 million shares for $35 each, according to an e-mailed statement from Goldman Sachs Group Inc., the sole manager of the sale. They were offered at $34 to $35.25 apiece, according to a person familiar with the process, as much as 6.6 percent lower than today’s last trade., also an investor in Facebook Inc., held its initial public offering in London in November, raising $912 million. The Moscow-based company rose 1.9 percent to $36.40 in London trading today, valuing the company at $7.6 billion.

Milner, 49, co-founded in 2001 and was appointed chairman in October 2010. He has been expanding investments in social-networking websites, including a $400 million investment in micro-blogging service Twitter Inc. last month. bought its stake in Facebook in 2009 and also holds Internet investments in online game company Zynga Inc. and shopping website Groupon Inc. Chief Executive Officer Dmitry Grishin said last month that may sell some of its shares in Groupon and Zynga if those companies hold initial public offerings.

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