Investors embrace Mail.Ru block despite bad markets

By Sam Kerr
27 Oct 2020

Sands Capital Management, the US investment manager, sold a 1.6% stake in Russian internet services company Mail.Ru on Monday despite a torrid evening for international stock markets.

Morgan Stanley was the sole bookrunner on the $98m sale of Global Depositary Receipts (GDRs) on the London Stock Exchange, which the US bank also underwrote.

The transaction was launched at 5.29pm UK time and was covered in under half an hour. The transaction was priced at ...

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