Russian Facebook shareholder plans London listing: report

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Fast-growing Russian firm Digital Sky Technologies (DST), which owns stakes in Internet companies including Facebook, is planning to list its shares in London in 2011, a report said Thursday.

DST has mandated Goldman Sachs, Morgan Stanley and JPMorgan to lead its Initial Public Offer on the London bourse planned for spring 2011, the Vedomosti daily reported, quoting company and banking sources.

A stake of 10-25 percent is expected to be floated, Vedomosti added.

The flotation could take part either on the main London Stock Exchange or the smaller Alternative Investment Market (AIM). DST was hoping to be valued at around six billion dollars after the listing, it added.

Vedomosti said that DST has built up its stake in leading Russian mail provider to 99.9 percent and also controls the hugely-popular Russian social networking site and the messenger service ICQ.

It cited a source close to the company as saying DST was now examining the possibility of buying out the minority shareholders in Odnoklassniki and ICQ and bundling them together with

DST also has a 25 percent stake in social networking site V Kontakte and a host of other sites.

But the firm is best known abroad for its stake in Facebook, which it started building up in 2009 with a 1.96 percent holding. It is believed to have built that level up further since.

It also holds a stake in Polish social networking site Nasha-Klasa. A 30 percent stake in DST is held by Russian oligarch Alisher Usmanov while international media group Naspers holds 28.7 percent.

© 2010 AFP

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