LONDON/MOSCOW, Nov 5 (Reuters) - Russian Facebook investor Mail.ru priced its London listing at $27.7 per share on Friday, the top of its price guidance and raising $912 million for the internet firm.
Mail.ru said it had sold 32.93 million shares in the initial public offering (IPO), representing a 17 percent stake in the company prior to an overallotment option.
The listing was covered on the first day of bookbuilding, which closed a day early due to strong demand. The book was 20 times oversubscribed at the top end of the range, according to one financial market source.
Demand came mostly from U.S. and British technology-focused funds, a source close to the offer said.
The listing values the company at $5.71 billion, making it Europe's largest listed internet business. (Reporting by Kylie MacLellan in London, Maria Kiselyova and Olga Popova in Moscow; editing by David Hulmes)