Russia-based Mail.ru Group, a company that has invested in both Facebook and social-gaming company Zynga, has announced per-share pricing for its initial public offering on the London Stock Exchange.
According to the company, it plans to offer its shares for $23.70 to $27.70. At that price, Mail.ru will have an equity value between $4.86 billion to $5.71 billion after its shares are issued.
Proceeds from its IPO will be used to fund its acquisition of an additional 7.5 percent of Russian social network vKontakte for $112.5 million.
Mail.ru's portfolio of services include e-mail, social networking, and online-gaming sites. Its properties reach about 70 percent of all Russian Internet users each month, the company said in a statement.
But it's Mail.ru's stake in Facebook and Zynga that make it most notable.
Last year, Mail.ru Group, known then as Digital Sky Technologies,. In return, it received 1.96 percent ownership of the world's top social network, based on a valuation of $10 billion.
More than a year later, Mail.ru Group now owns 2.38 percent of Facebook. It also holds a 1.47 percent equity interest in FarmVille creator Zynga, as well as a 5.13 percent stake in Groupon. Earlier this year, Mail.rufrom AOL for $187.5 million.
Mail.ru Group will trade under the ticker MAIL when its shares are issued.