Early Facebook Investor Mail.ru Group Sold Remaining Shares In July, August
Russian Internet company and early Facebook investor Mail.ru Group sold its remaining 14.2 million shares in the social network in July and August, netting it more than $525 million, Ryan Chilcote reported on Bloomberg Television's "The Pulse with Guy Johnson.”
Russian Internet company and early Facebook investor Mail.ru Group sold its remaining 14.2 million shares in the social network in July and August, netting it more than $525 million, Ryan Chilcote reported on Bloomberg Television’s “The Pulse with Guy Johnson.”
The lock-up period on the shares held by Mail.ru expired in May, according to Bloomberg, but the company was prudent enough to wait for Facebook’s stock price to rebound.
Otkritie Capital Analyst Alexander Vengranovich told Bloomberg:
Mail.ru earned more than expected on selling Facebook shares as it didn’t sell immediately in May.
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