Russian Search Engine Company Yandex Prices Shares At $20-$22 In $1.2 Billion IPO

Posted May 11, 2011

Yandex is a Russian search engine company that has recently filed for an initial public offering on the NASDAQ under the symbol YNDX. Yandex also recently announced that they are pricing the offering at between $20-$22 per share. Yandex is planning to raise about $1.2 billion from the sale of the shares.

Yandex is proposing the sale of 15.4 million shares in the offering. The underwriters have been given an option to purchase up to an additional 5.2 million shares. The total amount of the shares that will be offered in the filing total is 52.2 million.

In March 2011 Yandex received about 38.3 million unique visitors. They made total revenues of about $440 million in 2010.