Mail.ru Group has sold most of its stake in the group Qiwi, control of Russia’s largest system of instant payments . Mail.ru Group could realize 4% stake Qiwi from 2.8 percent discount to the market price, generated $ 80 million. Total investment in Qiwi, in which Internet holding company once owned a 25% stake, he earned more than $ 300 million.
September 9 investment bank Morgan Stanley spent occupancy 4 percent stake Qiwi, owned by Mail.ru Group. Collection of applications started at 16:00 Moscow time.
“Already at 18:00 on September 9th book was completely closed,” – said the managing Western Fund. According to him, the main buyers were American investment funds, as the Russian market participants almost got nothing. Sale price was set at $ 37.5 per ADR, which is 2.8% below Monday’s close – September 8. As a result, for a 4 percent stake in Mail.ru Group raised $ 80 million.
The fact that the Internet company should gain from the sale of about $ 80 million, and heard one of the shareholders Qiwi. According to Director of Investments April Capital Dmitry Skvortsov, Qiwi traditionally in high demand among American investors. “This placement once again confirms the fact that, if investors will be offered an attractive price, they will buy it, no matter how they loved ruble assets” – says Mr. Skvortsov.
Quotes Qiwi the opening of trading on the NASDAQ, the 9/10/2014 fell by 5%. The company’s capitalization was $ 2 billion. Prior to the transaction economic stake in Mail.ru Group Qiwi was 5.3%, and the votes – 11.3%. After the transaction, September 9, Mail.ru Group was a small package – about 1.3%.
As follows from the Mail.ru Group, September 2 its shareholders decided to exclude from the list Qiwi portfolio companies. This was the consequence of reducing the proportion of the share capital of Mail.ru Group in Qiwi.
“Mail.ru Group not only shareholder Qiwi, but also long-term strategic partner. This decision has no effect on partnerships and joint projects Qiwi and Mail.ru Group”, – said Alexander Каrаvаеv CFO Qiwi.
Qiwi shares were included in the portfolio of Mail.ru Group in 2010. At that time, the Internet company was 25% Qiwi. Over time, Mail.ru Group cut its package. So, in 2011, 3,74% Qiwi for $ 24.1 million sold Japanese Mitsui & Co. Next Mail.ru Group sold 5.9% stake Qiwi to $ 51.7 million in an IPO in May 2013.
In addition, the Internet company participated in two SPO – in October of 2013 and June of 2014, selling about 10% of the shares of more than $ 160 million. Thus, the sale of shares Qiwi Mail.ru Group has brought more than $ 300 million.
“The company has always stressed that by implementing non-core assets, we will not keep the accounts of excess cash,” – said before the co-founder, CEO and chairman of the board of directors of Mail.ru Group Dmitry Grishin.
However, a source in the stock market doubts that the money from the sale of shares will be made to Qiwi spetsdividendy. Mail.ru Group warned that the dividend will not be until the share Qiwi will not be sold completely, but the company is still 700 thousand. Shares, notes the analyst of “Opening Capital” Alexander Vengranovich.
Source – www.preqveca.ru
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