Usmanov selling 7.4 percent stake in Russias Mail.Ru

West Australian
Thursday 28th February, 2013

MOSCOW (Reuters) – Russia’s richest man, Alisher Usmanov, has commenced a placing of a 7.4 percent stake in Russian internet group Mail.Ru, the company said, after the company forecast slower revenue growth this year.A market source said the range for the share placement was $34.25 to $36 a share, which would value the stake at $544 million (358 million pounds) at the mid-point. The range represents a discount of 4-8 percent to Wednesday’s closing price of $37.4.London-listed Mail.Ru said in a filing on Wednesday that a company controlled by Usmanov called Ardoe Finance Ltd will place 15.5 mil…

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