Two Russian internet companies have reportedly announced plans to raise as much as $3bn (€1.9bn) from initial public offerings in London and New York this year, as the country’s government pledges direct investment in the sector that is drawing strong interest from investors.

Mail.ru, an email service provider and internet portal, is targeting as much as $2bn when it lists shares on the London Stock Exchange this summer and is in talks with Citibank, Goldman Sachs and Credit Suisse on the deal, according to Thomson Reuters.