Mail.ru raises $600m of growth capital

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By Aidan Gregory
24 Sep 2020

The string of Russian deals in European equity capital markets recently has continued with a $600m sale of new shares and convertible bonds by Mail.ru Group, one of the country’s largest internet companies.

Launched after the market close in London on Wednesday evening, the capital raising consisted of a $200m sale of new stock, a new $400m five year convertible bond and a simultaneous delta equity placement to facilitate hedging of the convertible bonds.  

Morgan Stanley was global coordinator.

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