Russia's Yandex announces NASDAQ listing

April 28, 2011
People walk by the NASDAQ in Times Square on April 1 in New York City. Russia's top Internet portal Yandex announced plans Thursday to hold an initial public offering on New York's NASDAQ stock exchange.

Russia's top Internet portal Yandex announced plans Thursday to hold an initial public offering on New York's NASDAQ stock exchange.

"Yandex N.V. announced today that it has filed a registration statement with the U.S. for a proposed of its Class A ordinary shares," the company said in a statement.

The fast-rising Russian Internet giant said it had not yet determined the amount of ordinary shares it would offer or the estimated price range of the stock.

Earlier Russian press reports said the firm -- most famous in Russia for its popular search engine -- intended to raise up to $1 billion through the offering.

The main Russian rival to said that Morgan Stanley would act as the sole global coordinator for the proposed offering.

Bookrunners besides Morgan Stanley would also include Deutsche Bank Securities and the US investment banking firm.

The announcement was made five months after Mail.ru -- Russia's largest free e-mail service -- raised $912 million dollars on the London Stock Exchange.

Yandex had been initially planning to sell up to 20 percent of its shares in New York before the onset of the global 2008 .

Analysts estimate that Yandex was worth about $3 billion before the crisis and that its value may now have climbed to $8 billion.

Explore further: Philips intends to sell LG.Philips LCD shares

Related Stories

Philips intends to sell LG.Philips LCD shares

July 8, 2005

LG.Philips LCD Co., Ltd., in which Royal Philips Electronics holds approximately 44.6 percent, last night announced that it has filed a Registration Statement with the U.S. Securities and Exchange Commission for a follow-on ...

US clients excluded from Facebook offering: report

January 17, 2011

Citing "intense media attention," Goldman Sachs has decided to exclude US clients from the private offering of as much as $1.5 billion in shares of Facebook, The Wall Street Journal reported Monday.

Facebook raises $1B more from non US investors

January 21, 2011

(AP) -- Facebook said Friday it has raised $1 billion from non-U.S. investors, which combined with an infusion from Goldman Sachs and Russia's Digital Sky Technologies in December, brings the haul from its latest round of ...

Russia's top portal to list on NASDAQ: report

February 21, 2011

Russia's top Internet portal Yandex intends to raise up to $1 billion (740 million euros) through an initial public offering on New York's NASDAQ stock exchange, the Vedomosti business daily reported Monday.

Recommended for you

Netherlands bank customers can get vocal on payments

August 1, 2015

Are some people fed up with remembering and using passwords and PINs to make it though the day? Those who have had enough would prefer to do without them. For mobile tasks that involve banking, though, it is obvious that ...

Power grid forecasting tool reduces costly errors

July 30, 2015

Accurately forecasting future electricity needs is tricky, with sudden weather changes and other variables impacting projections minute by minute. Errors can have grave repercussions, from blackouts to high market costs. ...

Microsoft describes hard-to-mimic authentication gesture

August 1, 2015

Photos. Messages. Bank account codes. And so much more—sit on a person's mobile device, and the question is, how to secure them without having to depend on lengthy password codes of letters and numbers. Vendors promoting ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.