Yandex Sets SPO Price at $22.75 Per Share

MOSCOW, March 13 (RIA Novosti) – Russia’s most popular Internet search engine, Yandex, will offer 7.4 percent of its stock in a secondary public offering (SPO) at a price of $22.75 per common share, the company said in a statement early on Wednesday. The price is unexpectedly lower than estimates of at least $25 per share offered by market experts as the company announced on Tuesday the commencement of an underwritten public offering of an aggregate of 24,253,987 Class A shares by existing shareholders BCB Holdings B.V., Belka Holdings Limited, Ilya Segalovich and Emerald Trust. Yandex …

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