Feeds

Facebook investor aims for $5.7bn float

Russia's biggest web firm shares ahoy

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

Mail.ru, which owns a stake in Facebook, has set the price it hopes to get for its shares when it floats on the London Stock Exchange.

The Initial Public Offering was announced earlier this month. Today's filing with the London Stock Exchange shows an indicative price range of between $23.70 and $27.70 per share, actually a global depositary receipt.

These figures value the company at between $4.78bn (£3.04bn) and $5.63bn (£3.58bn).

The company also owns stakes in Groupon and Zynga - the company behind Farmville.

The Russian company bought a 1.96 per cent stake in the giant social network for $200m in 2009. The sale effectively gives investors their only chance to buy into Facebook which is otherwise privately held.

Mail.ru is not just counting on Facebook - some of the cash raised from the sale of shares will go towards buying an extra 7.5 per cent stake in Russia's biggest social network vKontakte, giving it a 32.49 per cent stake in total. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.