Russian Yandex announces holding IPO on U.S. Nasdaq

Russia’s largest internet search engine Yandex on Thursday officially announced plans to hold an initial public offering (IPO) on Nasdaq, the company said in a statement.

“Yandex N.V. today announced it gave its request to committee of the U.S. Securities and Exchange Commission to hold an IPO,” the company’s statement read.

This will be the first time in five years a Russian company has held an IPO on the U.S. stock market after STS-Media.

“The number of stocks in the offer and their prices have not yet been defined,” the company said.

Morgan Stanley, Deutsche Bank Securities Inc. and Goldman Sachs have been chosen to organize the IPO.

“The company’s pre-marketing will begin next week and the offer is planned for the end of May, a source familiar with the IPO told RIA Novosti.

MOSCOW, April 28 (RIA Novosti)

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