Yandex prices IPO, to raise up to USD 339 mln

News Broadband Russian Federation 9 MAY 2011
Yandex prices IPO, to raise up to USD 339 mln
Russian search engine Yandex announced the price range of its proposed initial public offering of shares. The company is selling 15.4 million shares and shareholders are offloading 36.8 million shares, in an offering at USD 20-22 per share. In addition, Yandex and the selling shareholders have granted the underwriters an option to purchase up to an additional 5.2 million shares to cover over-allotments, if any. Proceeds for Yandex would be USD 338.8 million at the top of the price range, excluding the greenshoe option. Yandex filed in late April with the US Securities and Exchange Commission for the IPO on the Nasdaq market.

Categories:

Internet

Companies:

Option,  Yandex

Countries:

Russian Federation

Tags:

Shareholders & subsidiaries, Portals / social media, Advertising services, Financial funding

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