RDIF invests in Mail.ru Group at SPO and convertible bond offering
Moscow, October 2, 2020 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, announces participation in an offering of Global Depository Receipts (GDRs) and convertible bonds by Mail.ru Group, Russia’s leading internet and IT company.
RDIF and Mail.ru cooperate in a number of areas, including their joint venture AliExpress Russia. Mail.ru Group has contributed a portion of the proceeds from the offering to the development of this joint venture.
The proceeds will also be used for organic growth across existing verticals, and to pursue strategic M&A opportunities in high growth verticals, with a particular focus on those stimulated by the pandemic.
Telemedicine services have seen a rapid growth in demand because of the widespread nature of coronavirus. Doctis, a portfolio company of RDIF, and Mail.ru Group announced a strategic partnership in this area on June 5, 2020 which enabled Doctis to further expand its high-quality remote medical services via their integration in the “Health Mail.ru” website.
China’s Tencent, as well as Prosus (part of the South African Naspers Group) and other major strategic investors have participated in the offering alongside RDIF.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:
“Mail.ru is one of RDIF’s key partners in the rapidly growing IT and high-tech market. The successful placement will enable the Company to strengthen its positions and develop particularly promising areas, including AliExpress Russia, and to offer users a range of new products and services”.
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at www.rdif.ru
Mail.ru Group (MAIL, listed since November 5, 2010) is the largest internet business in Russia in terms of total daily audience (Mediascope WEB-Index Desktop&Mobile, Russia 0+, population aged 12+, June 2020). Mail.ru Group is developing the leading domestic internet communications and entertainment platform. The company owns Russia's two largest Russian language social networks, VKontakte (VK) and Odnoklassniki (OK), leading email service, one of Russia's largest internet portals (Mail.ru), and four instant messaging services. The company also holds the international gaming brand MY.GAMES, with a portfolio of hundreds of popular games for a range of platforms and over 605 million users worldwide. In 2019, Mail.ru Group Tech Lab was launched with a primary focus on technology and innovation development.Mail.ru Group is a shareholder of AliExpress Russia JV along with Alibaba Group, MegaFon and Russian Direct Investment Fund. The company partners with Sberbank to jointly develop O2O service platform targeting food delivery and taxi markets.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133