Yandex plans $1 billion IPO on NASDAQ in June/July 2011

We reported in November last year that Russia’s largest internet firm Yandex was considering a £1bn listing in London. According to Quintura blog and newspaper Vedomosti the IPO will go on NASDAQ in June – July 2011. The company has hired investment banks Deutsche Bank and Morgan Stanley to manage the IPO. The shares to be sold will come mostly from existing shareholders of Yandex. The private equity funds managed by Baring Vostok Capital Partners (BVCP), Tiger Global, Runet II, Almaz Capital and UFG own about 60% shares in Yandex.

Ru-Net Holdings, consortium of investors led by BVCP and UFG, invested $5.3 million for 35.7% shares in Yandex in April 2000.


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