Irina Gofman said the company had been valued at $153 million in 2005 with $10.25 per one share but the "the current price for one share was [now] about $30."
Gofman said Rambler Media, an integrated Internet holding that owns major Russian-language Web portal Rambler.ru, which provides Russian-language Internet, mobile, and television services, was not planning any additional emissions or other mechanisms to attract funds.
She said the company intended to use the remaining 75% of $40 million raised from the IPO on new acquisitions.
Gofman added that in 2006 the company would operate without losses and would be able to finance further development.
"We are interested in profitable businesses [mainly Russian companies]... which may be effectively combined with our multi-service portal," she said.
Gofman said the company had "a number of interesting projects" with foreign companies but declined to discuss any details.
