Russia's Mail.ru surged as much as 41% in London Stock Market in the first day of the trading since this morning. They raised $912 million. This is the biggest IPO in the City since July.
They sold 32.9 million GDR at $27.70 each.
Money they raised through IPO will mainly be spend on acquiring the Russia's number one Social Network vKontakte.ru.
Mail.ru owns 2.4% of Facebook, 5.1% of Groupon, 1.5% of Zynga Game Network Inc.
Mail.ru revenues are expected to increase to $301 million and earnings before tax will rise 70% reaching to $104 million this year.
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