May 24, 2011 / 9:54 AM / 7 years ago

Factbox: Russia's Yandex ups pricing of Nasdaq IPO

(Reuters) - Russian internet company Yandex raised the price guidance for its Nasdaq initial public offering on Monday, a source said, responding to strong demand following LinkedIn’s blowout float last week.

Following are key facts about Yandex and its planned IPO:

IPO DETAILS

* Yandex’s Dutch-registered parent company Yandex NV filed with the U.S. Securities and Exchange Commission on May 9 for an IPO of 52.2 million Class A shares.

* Yandex NV is offering 15.4 million new Class A shares, and selling shareholders are offering 36,774,088 Class A shares.

* The offering was initially priced at between $20 and $22 each, but a source close to the placement told Reuters on Monday -- hours before the final price announcement -- that the guidance had been raised to $24-$25.

* Pre-money, the deal values Yandex at $7.3-$7.6 billion.

* Private equity firm Baring Vostok Capital Partners is expected to become the company’s biggest shareholder after the IPO, controlling 26 percent of the voting rights.

* Trading under the symbol will begin on May 24.

* Morgan Stanley, Deutsche Bank and Goldman Sachs are leading underwriters on the offering.

* Yandex plans to use the IPO proceeds to invest in technology infrastructure, especially new servers and data centers, and for possible acquisitions of or investments in technologies, teams and businesses.

HISTORY

* Yandex was founded by Arkady Volozh and Ilya Segalovich in 1997 as search engine www.yandex.ru for Russian Internet users.

* It has since established businesses in Ukraine (yandex.ua), Kazakhstan (yandex.kz) and Belarus (yandex.by).

* Launched worldwide search at www.yandex.com in May 2010.

* Fund ru-Net Holdings Limited, created by Baring Vostok Capital Partners and United Financial Group, bought a 35.72 percent stake in Yandex for $5.28 million in 2000, valuing the business at just $15 million.

OWNERSHIP

* Main shareholders prior to the IPO: Baring Vostok Private Equity Funds with a 24.49 percent stake, Arkady Volozh (20.27 percent), Roth Advisors (6.58 percent), International Finance Corporation (6.27 percent), Ilya Segalovich (4.24 percent).

* Main shareholders’ stakes after the IPO: Baring Vostok Private Equity Funds with 25.97 percent, Arkady Volozh (19.77 percent), Roth Advisors (5.95 percent), International Finance Corporation (5.51 percent), Ilya Segalovich (4.15 percent).

* In autumn 2009, Yandex handed over a ‘golden share’ in its Netherlands-registered parent Yandex N.V. to Russian state bank Sberbank, giving it a right to veto any future deal that would see a single shareholder acquire a stake of more than 25 percent.

BUSINESS

* Yandex had a 65 percent share of the Russian internet search market in March 2011, while closest rival Google controlled 21.8 percent.

* Full-year 2010 revenue rose 43.2 percent to 12.5 billion roubles (around $445 million) to U.S. Generally Accepted Accounting Principles (GAAP). First-quarter 2011 revenue stood at $137 million.

* Net profit rose to 3.8 billion roubles ($135.3 million) in 2010 from 2 billion roubles in 2009. First-quarter 2011 net profit amounted to $28.8 million.

* The number of advertisers rose by more than 40 percent in 2010, to 180,000.

* According to comScore, its monthly audience stood at 58.8 million in March.

* Based on TNS estimates, some 80 percent of Russian internet users use Yandex search.

Compiled by Maria Kiselyova and Anastasia Teterevleva; Editing by David Hulmes

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