Mail.ru Group Limited (LSE: MAIL, hereinafter referred as “Mail.ru Group” or the “Company”), one of the largest Internet companies in the Russian-speaking Internet market, today announces that following the commentary on February 26th 2020 the Board of Directors has approved the listing of global depositary receipts (GDRs) of the Group on Moscow Exchange.
The plan is for Mail.ru Group’s GDRs to begin trading in Moscow during H1 2020. There will not be any secondary issuance accompanying the listing.
Boris Dobrodeev, CEO of Mail.ru Group (Russia), said: “We remain committed to public markets and we want to be accessible for all types of investors, including those based in our core market. We want our local users to not only enjoy the broad range of our services but also have easy access to our equity. Additionally it is very important that our institutional investors have the benefit of potentially higher liquidity. Following our target listing on Moscow Exchange we expect to further diversify our investor base and see the Company included in new equity indexes.”
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