Leading Russian Search Engine Yandex (YNDX) Files $1 Billion Nasdaq IPO
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Russia's most popular search engine Yandex N.V. (Nasdaq: YNDX) filed to go public in the U.S. and is seeking to raise up to $1 billion.
The company seeks to list their Class A shares on the NASDAQ Global Market under the symbol "YNDX."
Morgan Stanley, Deutsche Bank and Goldman Sachs were tapped to lead the IPO.
In 2010, Yandex generated 64% of all search traffic in Russia and were the largest Russian internet company by revenue. In March 2011, the yandex.ru website attracted 38.3 million unique visitors.
Yandex generated revenue of $439.7 million in 2010 and net income of $134.3 million.
The company seeks to list their Class A shares on the NASDAQ Global Market under the symbol "YNDX."
Morgan Stanley, Deutsche Bank and Goldman Sachs were tapped to lead the IPO.
In 2010, Yandex generated 64% of all search traffic in Russia and were the largest Russian internet company by revenue. In March 2011, the yandex.ru website attracted 38.3 million unique visitors.
Yandex generated revenue of $439.7 million in 2010 and net income of $134.3 million.
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