Mail.ru Group will carry out a secondary listing on the Moscow exchange

Mail.ru Group Limited by resolution of the Board of Directors will hold a secondary listing on the Moscow exchange, said in a statement. It is planned that the global Depositary receipts Mail.ru Group will begin trading in Moscow in the first half of 2020 an Additional issue to not be.

Director General Mail.ru Group Boris Dobrodeyev said that the company is focused on public markets in the desire to be available to all investors. In Mail.ru Group hope a secondary listing on Moscow exchange can increase the potential liquidity of securities that are held by institutional investors. The company expects that the company’s investor base will expand, and it will be included in the new indices.

Since 2010 receipts for shares are traded on the London stock exchange. As of October 2019, the free float is around 50%.

the Largest shareholders of the group by votes – ITF (a joint venture of MegaFon, USM Holdings Alisher Usmanov and “Gazprombank”, 58.3% of the votes) and the South African Naspers (12.3% of votes).

for the First time about intention Mail.ru Group to carry out a secondary listing, it became known on February 26 from the company’s financial statements. Then the company announced that by the end of 2019 total segment revenue Mail.ru Group increased by 22.4% year-on-year and amounted to 87 billion rubles. the Total net profit of the company rose 3.8% to 15.65 billion rubles, while total segment EBITDA by 9.6% to 29,75 billion rubles.