Social network "VKontakte" is considering the possibility of an IPO in New York. This was reported on Wednesday evening by the agency. citing knowledgeable sources.
According to them, at the beginning 2011 of the year, representatives of VKontakte met with investment banks and consulted on the possibility of listing the company on the stock exchange next year. The final decision on the IPO has not yet been made, sources highlighted.
VKontakte is the largest Russian social network with more than 25,5 million users per day. In total, about 100 million accounts.
Control over the company belongs to its founders. 32,49%-Mail.ru Group owns a new package through VK.com.
Mail.ru Group (formerly DST) invested in VKontakte in 2007 year. Holding acquired 24,99% behind $16,3 million, and in November 2010 increased the share by 7,5%. The last transaction took place based on the assessment of "VKontakte" in $1,5 billion. Mail.ru also has option for redemption 7,5% Social, valid until November of the current year. The terms of the option were not disclosed by the parties.
Revenue of "VKontakte" in the first half of the year 2010 was $40,1 million, EBITDA – $12,8 million, net profit - $7,4 million.
Investor interest in Internet companies in the world remains high. Two Russian Internet giants have already taken advantage of favorable market conditions, reminds "Interfax".
In November 2010 of the year Mail.ru Group entered the LSE. IPO passed at the upper end of the price range and with a 20-fold oversubscription. The company's capitalization following the results of the placement amounted to $5,71 billion, and GDR quotes at the first trading grew by almost 30%.
In May 2011 year no less successfully on the American NASDAQ released "Yandex". The company placed shares against the backdrop of rush demand - the order book was oversubscribed by more than 15 once. On the eve of pricing, the company increased the price range to $24-25 with $20-22 per share, which didn’t prevent the quotes from soaring by 55% on the first day of trading.
Another IPO in May was conducted by the American LinkedIn, owns a social network for finding and establishing business contacts. The company was rated in $4,3 billion, and quotes on the first day of trading increased by 109%.
