MOSCOW May 20 Russian biggest internet firm
Yandex plans to raise between $1.5 billion and $2.0 billion in a
New-York initial public offering in autumn this year, a source
close to the offering told Reuters on Tuesday.
The source said the proceeds expectations are based on a
preliminary valuation of Yandex at $5 billion. He did not say
what stake would be offered in the IPO.
Russian media earlier reported Yandex had mandated Morgan
Stanley, Deutsche Bank and Renaissance Capital to organise an
IPO on Nasdaq NADq.O.
Yandex was founded in 2000 by Arkady Volozh and Ilya
Segalovich who currently own around 30 percent in the firm.
Funds ru-Net Holdings and Baring Vostok Capital Partners
together hold more than 30 percent of Yandex' shares, while 15
percent are owned by Tiger Technoligies. The remaining is held
by minority shareholders, including Yandex managers.
(Reporting by Olga Popova; Writing by Maria Kiselyova; Editing
by Tanya Mosolova)