Russian Direct Investment Fund Invests in Mail.ru Group

Posted on 10/02/2020


The Russian Direct Investment Fund (RDIF) participated in an offering of Global Depository Receipts (GDRs) and convertible bonds by Mail.ru Group, Russia’s major internet and IT company. The proceeds will also be used for organic growth across existing verticals, and to pursue strategic M&A opportunities in high growth verticals, with a particular focus on those stimulated by the pandemic. Tencent Holdings Limited, as well as Prosus (part of the South African Naspers Group), and other major strategic investors have participated in the offering alongside RDIF.

RDIF and Mail.ru cooperate in a number of areas, including their joint venture AliExpress Russia. Mail.ru Group has contributed a portion of the proceeds from the offering to the development of this joint venture.

Mail.ru Group is listed since November 5, 2010. Mail.ru is the largest internet business in Russia in terms of total daily audience (Mediascope WEB-Index Desktop&Mobile, Russia 0+, population aged 12+, June 2020).

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