Yandex over-allotment option takes IPO to $1.43 billion
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)
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video