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Early Facebook Investor Mail.ru Group Sold Remaining Shares In July, August


Russian Internet company and early Facebook investor Mail.ru Group sold its remaining 14.2 million shares in the social network in July and August, netting it more than $ 525 million, Ryan Chilcote reported on Bloomberg Television’s “The Pulse with Guy Johnson.”

The lock-up period on the shares held by Mail.ru expired in May, according to Bloomberg, but the company was prudent enough to wait for Facebook’s stock price to rebound.

Otkritie Capital Analyst Alexander Vengranovich told Bloomberg:

Mail.ru earned more than expected on selling Facebook shares as it didn’t sell immediately in May. The company is now likely to pay special dividends from the sale, as it did earlier.

According to Bloomberg, Mail.ru Co-Owner Alisher Usmanov became a Facebook investor in 2009, holding part of his stake through Mail.ru and part through investment fund Digital Sky Technologies, adding that Usmanov earned some $ 1.4 billion via selling shares during Facebook’s initial public offering in May 2012.

Readers: Are you surprised that Mail.ru Group unloaded its entire Facebook stake?

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