Russia’s Mail.ru sets IPO price range at $23.7-$27.7

* Price range puts value of Mail.ru at $4.78-$5.63 bln

* Pricing to take place on Nov. 8

MOSCOW, Oct 25 (BestGrowthStock) – Facebook’s Russian investor
Mail.ru has set a price range for its planned London initial
public offering (IPO) at $23.7-$27.7 per share, a source close
to the placement told Reuters on Monday.

The pricing would put Mail.ru’s value at $4.78-$5.63
billion.

Mail.ru, whose placement might help set a benchmark for
other Russian Internet firms, announced its intention to float
on Oct. 11, with sources saying around 15 percent of shares
could be up for grabs [ID:nLDE69A11C].

The company, previously known as DST, is expected to price
the offering on Nov. 8.

In addition to a 2.38 percent stake in Facebook, Mail.ru
owns 5.13 percent of e-commerce coupon site Groupon and 1.47
percent in social game company Zynga, as well as Russian mail
and social networking sites and instant messenger ICQ.

Billionaire Alisher Usmanov owns 34 percent of Mail.ru.
(Reporting by Olga Popova; Writing by Lidia Kelly; Editing by
Will Waterman)

Russia’s Mail.ru sets IPO price range at $23.7-$27.7