Yandex has placed the shares for $25 under IPO, the volume will be $1.3 billion

/IRBIS, May 24, 2011/ - Russia's largest Internet search engine Yandex has determined the price of shares in the IPO at $ 25, which will raise $ 1.3 billion, Reuters reported today, citing to a source familiar with the terms of the transaction. As indicated, on the eve before closing the book of applications, Yandex increased range of accommodation by 20 percent - to $24-25 from $ 20-22. According to the sources as close to accommodation, as well as the financial market, the demand for the company's stock has been very high on the first day of opening of the book and rose further after the successful placement of a social network LinkedIn. About the intention to conduct IPO Yandex announced in late April after the SPO of another Russian internet company Mail.ru for $ 450 million. Six months earlier Mail.ru held one of the most successful for the company with Russian assets IPOs worth about $ 1 billion but only on the stock exchange in London. Registered in the Netherlands, the company Yandex NV and other shareholders of Yandex offer investors 52.2 million shares of Class "A". The company's founders Arkady Volozh and Ilya Segalovich sell 4.1 million shares and 820.000, respectively. Yandex is planning to put the proceeds from the IPO to develop infrastructure, including servers and data centers, as well as absorption and investments in technology, or companies whose profile is similar to the operations of Yandex. The organizers of the placement are Deutsche Bank, Morgan Stanley and Goldman Sachs. Net income of Yandex in 2010 was $134.3 million in the first quarter of 2011 - $ 28.8 million in revenues last year - $ 439.7 million with operating costs of $ 270 million in the first quarter of 2011 - $ 137 million at a cost of $ 92.3 million The main shareholders of Yandex are funds managed by Baring Vostok Capital Partners (23.89 percent of the voting shares), Roth Advisors Ltd. (6.42 percent), the International Finance Corporation (6.12 percent), and Volozh (19.77 percent) and Segalovich (4.14 percent). Yandex IPO could be the first deployment of Russian companies on Nasdaq since 2006, when the stock market met Russian CTC Media. It was indicated that in the fall of 2009, the company gave the state Sberbank "golden share" of registered in the Netherlands maternal Yandex NV. The key right of the holder is a veto on future deals that would allow one person or group to buy stake in Yandex NV, more than 25 percent. [2011-05-24]