RDIF invested in Mail.Ru during the placement

The Russian Direct Investment Fund (RDIF) announced that it invested in Mail.Ru Group when placing global depositary receipts (GDR) and convertible bonds of the company. The amount of investment is not disclosed.

RDIF and Mail.Ru Group cooperate in several areas, primarily in the Aliexpress Russia JV, the fund recalled. Part of the funds received from the placement of securities, the IT company will direct to the development of this joint venture. The rest will go to the development and organic growth of the holding and potential deals.

In addition to RDIF, China's Tencent, Prosus (a division of the South African NaspersGroup) and other companies took part in the Mail.Ru offering.

The decision to place GDRs and convertible bonds maturing in 2025 on the London Stock Exchange was announced by Mail.Ru Group at the end of September. The company expected to raise $600 million, which corresponds to about 10% of its capitalization. Her message said that the money will go to organic development, financing of possible M&A and the work of a joint venture with Sberbank and AliExpress.