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Yandex goes public at $25.00 per share

24 May 2011 BY

Google doesn’t take them seriously, but many in the East of Europe and the countries below Russia certainly do. And for a reason, they are growing rapidly and making new functionalities and taking new steps all the time. Who? Well Yandex off course.

Yandex earlier announced it was going public and today announced the pricing of its initial public offering. 52,174,088 Class A ordinary shares will be available for $25.00 per share. The Class A ordinary shares will begin trading today on the NASDAQ Global Select Market under the symbol “YNDX”.

From the press release:

“Yandex is selling 15,400,000 shares and certain of its shareholders are selling an aggregate of 36,774,088 shares. In addition, Yandex and the selling shareholders have granted the underwriters a 30-day option to purchase, in aggregate, up to an additional 5,217,405 shares to cover over-allotments, if any, at the initial public offering price.”

With Yandex going public it will be interesting to see how the Eastern European search giant reacts to it. Both in their PR as in their steps for the future. Going public sure is an indication of growth and Yandex doesn’t seem to be seeing this as their final destination point.

AUTHORED BY:
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Bas van den Beld is a speaker, trainer and online marketing strategist. Bas is the founder of Stateofdigital.com. -- You can hire Bas to speak, train or consult.
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