Yandex over-allotment option takes IPO to $1.43 billion

MOSCOW Fri May 27, 2011 8:19am EDT

Yandex founder and CEO Arkady Volozh (front, 2nd R) celebrates as Yandex is listed on the Nasdaq exchange during their IPO at the Nasdaq market site in New York May 24, 2011. REUTERS/Mike Segar

Yandex founder and CEO Arkady Volozh (front, 2nd R) celebrates as Yandex is listed on the Nasdaq exchange during their IPO at the Nasdaq market site in New York May 24, 2011.

Credit: Reuters/Mike Segar

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MOSCOW (Reuters) - Yandex (YNDX.O) said on Friday the underwriters of its recent blockbuster Nasdaq IPO had exercised an over-allotment option in full, bringing the total raised to $1.43 billion.

Yandex, which raised $1.3 billion in the biggest internet IPO in the United States since Google Inc (GOOG.O) nearly seven years ago, saw its shares surge 55 percent in their trading debut on Tuesday.

It said on Friday the underwriters would purchase 5.2 million Class A shares at the IPO price of $25 per share, of which 1.5 million shares will be sold by the company and 3.7 million shares by selling shareholders.

Morgan Stanley, Deutsche Bank Securities and Goldman Sachs led the underwriters on the offering. Based on Thursday's closing price of $33.33, Yandex is valued at $10.7 billion.

Yandex's net proceeds from the offering will be $399 million.

(Reporting by Maria Kiselyova, Editing by Douglas Busvine and Mike Nesbit)

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