Deals
Facebook Backer Mail.ru Said to Get Bids for All Stock
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Mail.ru Group Ltd., a Russian investor in Facebook Inc., has drawn orders for all the stock on sale in its $876 million initial public offering in London, two people with knowledge of the talks said.
The banks arranging the sale expect to set the final price for the stock in the week of Nov. 8, said one of the people, who declined to be named because the talks are private. Mail.ru, partly owned by billionaire Alisher Usmanov and South Africa’s Naspers Ltd., is selling 31.6 million global depository receipts for $23.70 to $27.70 each. The company’s owners may reap as much as $792 million from selling their stake in the IPO, and Mail.ru may raise up to $83.1 million, the terms show.