openPR Logo
Press release

Dynamic Wealth Management Headlines: Yandex Is Set for $1.3 Billion Stock Offering

Less than a week after LinkedIn’s stellar debut, Wall Street is gearing up for the initial public offering of yet another multibillion-dollar Internet start-up.
Yandex, one of the largest Web companies in Russia, will price its offering at $25 a share, well above expectations, according to a person briefed on the deal who was not permitted to publicly discuss the offering.
The company, based in Moscow, is set to go public on Tuesday morning. It plans to sell 52.2 million shares in its offering and raise $1.3 billion. Its underwriters, led by Morgan Stanley, Goldman Sachs and Deutsche Bank Securities, also have the option to sell an additional 5.2 million shares to cover over-allotments.
At $25 a share, the company is being valued at $8 billion.
Enthusiasm has been building for Yandex, the most popular search engine in Russia. Two weeks ago, Yandex forecast a more modest price range of $20 to $22 a share.
For investors, Yandex represents a bet on Russia’s burgeoning technology market. Last year, Yandex generated about 64 percent of all search traffic in the country, trumping the Internet giant Google in the region. And unlike some of its peers, the business is churning out consistent profit, according to its recent regulatory filings. Last year, it recorded revenue of $439.7 million and net income of $134.3 million.“Yandex should generate investor interest as the only U.S.-traded company with pure exposure to Russia’s large and underpenetrated online advertising market, which is expected to grow from $840 million in 2010 to $2.3 billion by 2013,” Stephanie Chang, an analyst with the I.P.O. advisory firm Renaissance Capital, wrote in a research note on Monday.
The company, which will trade on the Nasdaq Stock Market under the ticker symbol YNDX, is also expected to ride a wave of investor enthusiasm for popular technology start-ups.
In the last few weeks, a string of Internet offerings have roared out of the gates. Last Wednesday, for instance, LinkedIn, a social network for professionals, defied expectations by more than doubling on its first day of trading.
Earlier this month, Renren, one of China’s leading social networks, rose 29 percent on its debut and raised $743 million in its offering. Both stocks have since pulled back — LinkedIn and Renren fell about 5 percent on Monday — but LinkedIn remains 96 percent above its offering price.
“There will be huge demand for Yandex; there has been since day one,” said Scott Sweet, a senior managing partner of I.P.O. Boutique.
He added, “Yandex didn’t need the help, but they should send LinkedIn a thank you card.”
Yandex is another important test for the market.
By the sheer size of its initial public offering, it is the largest Internet issue to hit the American stock market since Google’s $1.7 billion offering in 2004. Still, it is not the only major technology I.P.O on deck this week. On Thursday, Freescale Semiconductor is expected to go public with an offering that could raise about $1 billion.
For Yandex, it has been a long road to the public markets. The company originally filed to go public in 2008, but postponed its plans because of turmoil in the financial markets.
Yandex’s largest shareholders include the hedge fund Tiger Global Management, Baring Vostok Private Equity Funds and the company’s chief executive, Arkady Volozh, all of which are selling some shares in the offering.

The company, based in Moscow, is set to go public on Tuesday morning. It plans to sell 52.2 million shares in its offering and raise $1.3 billion. Its underwriters, led by Morgan Stanley, Goldman Sachs and Deutsche Bank Securities, also have the option to sell an additional 5.2 million shares to cover over-allotments.

Dreikoenigstrasse 31 A,8002
Zurich, Switzerland
+ 41 445 804 920

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Dynamic Wealth Management Headlines: Yandex Is Set for $1.3 Billion Stock Offering here

News-ID: 178316 • Views: 925

More Releases from Dynamic Wealth Management Zurich

Dynamic Wealth Management Headlines: Nigeria’s Economic growth and Statistics: …
Governor Sanusi Lamido Sanusi of the country’s apex Federal Reserve Institute, the Central Bank of Nigeria and its monetary policy committees retained the benchmark interest rate at 12 percent. The market did not anticipate any change of the monetary interest rate; therefore there was no negative or positive reaction to the outcome. Sanusi’s CBN cannot be accuse of not trying its best possible to utilize the tightening of the monetary
Dynamic Wealth Management Headlines: German Bunds Advance as French Borrowing Co …
German bonds rose as French borrowing costs climbed at an auction, stocks declined and European industrial orders increased less than analysts predicted, fueling concern the debt crisis is feeding an economic slump. Italian and Spanish bonds slid as Europe’s bailout fund sells notes at a yield spread almost seven times its first issue a year ago. Greek Prime Minister Lucas Papademos said his nation faces “the immediate risk” of a default
Dynamic Wealth Management Headlines: Europe,China Manufacturing Drops on Impact …
Dec. 1 (Bloomberg) — Manufacturing weakened from China to Europe last month as the euro region’s debt crisis darkened the outlook for the global economy. China’s manufacturing contracted in November for the first time since February 2009 as the property market cooled and Europe’s turmoil cut export demand. In Britain and the 17-nation euro area, manufacturing shrank at the fastest pace in about 2 1/2 years as the region edged toward
Dynamic Wealth Management Headlines: Opportunities for Africa from the global ec …
The recent global economic crisis has provided us in Africa with an opportunity to review how we do business and think about the future, a future that needs to be grounded in fairness, integrity and sustainable development as opposed to greed and cronyism that has all too often been the case in the past. I believe that a key factor for the future will be the role played by the

All 5 Releases


More Releases for Yandex

Ride Hailing Market May Set a New Epic Growth Story | Ola, Uber Technologies, Ya …
Global Ride Hailing Market Report 2021 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support (2021-2026). The influencing Factors of growth and regulations with respect to the usage of the information, availability of highly reliable products in the
Search Engine Marketing Market to Eyewitness Massive Growth by 2026: DuckDuckGo, …
A new business intelligence report released by HTF MI with title "COVID-19 Outbreak-Global Search Engine Marketing Industry Market Report-Development Trends, Threats, Opportunities and Competitive Landscape in 2020" is designed covering micro level of analysis by manufacturers and key business segments. The COVID-19 Outbreak-Global Search Engine Marketing Market survey analysis offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics
Semantic Knowledge Graphing Market to See Huge Growth by 2025 | Microsoft, Yande …
A new business intelligence report released by HTF MI with title "Global Semantic Knowledge Graphing Market Size, Status and Forecast 2019-2025" is designed covering micro level of analysis by manufacturers and key business segments. The Global Semantic Knowledge Graphing Market survey analysis offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both
Global Search Engine Market Size 2025 |Top 10 Key Players:-Google, Yandex, Ask, …
A newly compiled business intelligent report, titled “Global Search Engine Market Size, Status and Forecast 2018-2025” has been publicized to the vast archive of Market Research Hub (MRH) online repository. The study revolves around the analysis of (Search Engine) market, covering key industry developments and market opportunity map during the mentioned forecast period. This report further conveys quantitative & qualitative analysis on the concerned market, providing a 360 view on
Search Engine Market 2018 Analysis by Major Players (Google, Baidu, Bing, Yahoo! …
In 2017, the global Search Engine market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2018-2025. This report focuses on the global Search Engine industry status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Search Engine development in United States, Europe and China. Get Sample Copy of
TMT Predictions Market Key Players - Xerox, Yahoo!, Yandex, Twitter, and Ubisoft …
TMT Predictions Overview: The big themes for 2017, in order of importance for investors, are artificial intelligence (AI), cybersecurity, voice, virtual reality, Cloud computing, the Internet of Things , Blockchain, MedTech, robotics, Internet TV, the Splinternet, Generation #Hashtag, regulation, 3D printing, quantum computing and M&A. This report pulls together the most important tech investment themes for 2017 and identifies “winners” and “losers” within each theme. Click here for sample report @ https://www.wiseguyreports.com/sample-request/3054208-tmt-predictions-2017-global-thematic-research Top Companies mentioned 21st