OREANDA-NEWS. October 29, 2010. The IPO of Mail.ru Group Ltd. may bring underwriting banks a yield of more than USD 30 mn. Mail.ru Group IPO is the largest initial offering of a Russian company in 2H2010. The placement global coordinators and Goldman Sachs and JP Morgan; Morgan Stanley and VTB capital are to act as bookrunners.

In line with an IPO memorandum, total underwriting fee due to the banks is USD 26.4 mn. After pricing, Mail.ru could pay the issue coordinators an extra bonus of nearly USD 6 mn, based upon the average floatation price and in case of a green-show option.

The banks’ potential income from the Mail.ru Group IPO is comparable to the amount raised by arrangers of the largest 2010 deal, the listing of Rusal shares on the Hong Kong Stock Exchange.