MLRYY VK Company Ltd (CE)

By Andrey Ostroukh

MOSCOW--Russia's wealthiest man, Alisher Usmanov, is to sell a 7.4% stake in internet company Mail.Ru Group (MAIL.LN) for $34.25 per global depositary receipt, bookrunner Morgan Stanley (MS) said Thursday.

Late on Wednesday, Mail.Ru said that Ardoe Finance Ltd., a company controlled by Mr. Usmanov's USM Holdings Ltd., had begun placing the stake with international investors via a GDR offering.

USM Holdings had owned 25.3% of Mail.Ru and 60.6% of the voting rights. The statement from Mail.Ru said USM Holdings would retain about 17.9% of share capital and 58.1% of voting rights at the end of the placement.

Write to Andrey Ostroukh at andrey.ostroukh@dowjones.com

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