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VKontakte put off its IPO
5.06.2012 09:22
VKontakte put off its IPO
Pavel Durov, the founder of VKontakte

The popular Russian social net VKontakte has postponed its IPO for an uncertain period of time, wrote the founder of the social net Pavel Durov in its Twitter.


‘The IPO of Facebook has broken the belief of many private investors, so the IPO of VKontakte has been put off for an uncertain period of time,’ said Durov.


At the moment Pavel Durov has the right to vote the shares of the largest VKontakte shareholder, the company Group. It owns 39.99% of shares of the social net. He got the relevant power of attorney on May 28. Durov himself owns 12% of the social net shares and now he has the whole control in the company.


In the start of 2011 the news agency Bloomberg reported, the VKontakte authorities had planed IPO in the nearest time. According to mass media VKontakte was negotiating with banks on their participation in shares placement.





Author: Irina Fomina

Tags: Russian social nets VKontakte    

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