Vkontakte IPO Likely To Be Delayed

BLOOMBERG – Jan 29 – The largest Russian social networking site has apparently put plans on hold for an initial public offering, according to two anonymous sources who have knowledge of the matter. Vkontakte began evaluating IPO plans in June 2011 but has not yet hired any banks to help sell its shares. The sources stated that the process may be restarted as soon as the market becomes favorable. Vkontakte is backed by Mail.ru Group and reportedly has 110M registered users, with approximately 70% of those residing in Russia. A Vkontakte spokesperson did not respond to repeated requests for comment.

See full article at The Moscow Times

See all posts on Vkontakte