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    MAIL   US5603172082

MAIL.RU GROUP LIMITED

(MAIL)
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Mail ru : provides $60.3 mn in additional capital to AliExpress Russia JV

10/12/2021 | 03:12pm EST

The Board of Directors of MAIL.RU GROUP LIMITED (LSE and MICEX-RTS: "MAIL") ("Mail.ru Group" or the "Company") approved the Company's participation, together with certain other shareholders, in the additional funding round of AliExpress Russia JV ("AER").

Following approval from the Board, the Company submitted a $60.3mn payment to AER in return for additional shares in the JV as part of its new share issuance. The share registration process is expected to be completed in the coming days, with Mail.ru Group's shareholding expected to remain broadly unchanged following the expected completion of the funding round in Q4 2021 versus the current 15% economic and 17.6% voting level.

The new round of investment will fuel AER's ongoing active expansion into the local market, while also supporting its leading cross-border eCommerce business in Russia and its overall growth ambitions.

Additional funds will primarily be used for active logistics and fulfilment development, expansion into new categories as well as the broad enhancement of AER's overall service level and customer experience.

For further information please contact:

Investors

Tatiana Volochkovich

Phone: +7 495 725 6357 extension: 3434

Mobile: +7 905 594 6604

E-mail: t.volochkovich@corp.mail.ru

Press

Sergei Luchin
Mobile: +7 915 223 35 71
E-mail: s.luchin@corp.mail.ru

About Mail.ru Group

Mail.ru Group develops the VK ecosystem helping millions of people with their day-to-day needs online. More than 90% of the Russian internet audience use it every day.

The ecosystem enables people to keep in touch (using social networks OK and VK, messaging apps and email service), play video games (via MY.GAMES), get and offer items and services, browse jobs and hire talent (via Youla and VK Jobs), order food and grocery delivery (via Delivery Club, Samokat and Local Kitchen), get a ride (with Citymobil and Citydrive), master new skills (at GeekBrains, Skillbox and other educational services), buy and sell at Aliexpress Russia and fulfill other needs.

The VK ecosystem features a number of shared elements bringing the services together. Users can sign in to different services with a single VK Connect account, pay and earn cash back with the VK Pay platform, get discounts and deals with VK Combo, access their favorite services via the VK Mini Apps platform - and the Marusya voice assistant can help with any task.

The company offers enterprises to employ its dynamic ecosystem to digitize their business processes, providing a range of solutions from online promotion and predictive analytics to corporate social networks, cloud services and enterprise automatio

Disclaimer

mail.ru Group Ltd. published this content on 12 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2021 19:11:07 UTC.


© Publicnow 2021
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Financials
Sales 2021 127 B 1 697 M 1 697 M
Net income 2021 -134 M -1,78 M -1,78 M
Net Debt 2021 16 113 M 215 M 215 M
P/E ratio 2021 -43,8x
Yield 2021 -
Capitalization 273 B 3 618 M 3 642 M
EV / Sales 2021 2,27x
EV / Sales 2022 1,86x
Nbr of Employees 6 334
Free-Float 86,5%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 1 209,33 RUB
Average target price 2 369,49 RUB
Spread / Average Target 95,9%
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Managers and Directors
Matthew Charles Perrins Hammond Managing Director & Chief Financial Officer
Dmitry Grishin Non-Executive Chairman
Denis Anikin Chief Information Officer
Igor Yermakov Chief Technology Officer & Vice President
Alexey Milevskiy Chief Investment Officer
Sector and Competitors