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Files under: News, Tech, Web 2.0
Posted by: admin @ 11:51 [9. 05. 11]
 Russia’s leading search engine company Yandex, which plans to list on NASDAQ under the symbol “YNDX“, has announced terms for its IPO. The company plans to raise between $1,044 million and $1,148 million by offering ca. 52.2 million shares (or ca. 16% of total issued shares after IPO) at a price of between $20 and $22 per share.
At the mid-point of the proposed price range, Yandex shall have a market value of $6.7 billion. Last November, Mail.ru Group was valued at $5.7 billion at IPO in London.
The Yandex IPO is expected to price during the week of May 23. Morgan Stanley, Deutsche Bank Securities and Goldman Sachs are the lead underwriters on the deal.
Yandex reported sales of $494 million for the twelve months ended March 31, 2011. According to Yandex CEO Arkadiy Volozh, several dozens of Yandex employees will become millionaires after IPO.
Tags: Mail.ru Group, Mail.ru IPO, Yandex IPO, Yandex IPO price, Yandex IPO pricing, Yandex IPO terms, Yandex market value, Yandex NASDAQ, Yandex sales, YNDX
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