According to a registration statement (S-1) filed with the Securities and Exchange Commissions (SEC) on December 23, the leading Russian investment bank Renaissance Capital is sole underwriter of a $460 million initial public offering of shares of FriendFinder Networks, an adult-oriented content and online community network of sites and media properties including Penthouse.
When ONEXIM Group acquired 50 percent of Renaissance Capital for $500 million in September 2008, Stephen Jennings, CEO of Renaissance Group said: “At a time when many of our competitors are weakened, our unique franchise, solid capital platform and highly motivated staff will enable the firm to aggressively pursue growth opportunities.”
Renaissance Capital has been among underwriters of Yandex IPO, which was postponed. In February 2008, the bank acted as sole adviser on $50 million private placement of shares of EPAM, the leading software outsourcing service provider in Russia and Eastern Europe.
In Internet media sector, Renaissance Capital advised the shareholders of Mail.ru on sale of 30 percent in the company for $165 million to Naspers of South Africa in January 2007. The bank also advised Prof-Media on acquisition of 55 percent in Rambler Media in October 2006.