IPO "Yandex" postponed indefinitely
The placement of Yandex shares planned for the third quarter of this year was postponed indefinitely, Kommersant writes today. As it is easy to guess, this is due to the instability of financial markets. When all the same IPO takes place - it is not clear yet. If the situation is normalized, then accommodation is possible until May 2009. The deadline for the current procedure is May 12, 2009.
The fact is that, according to NASDAQ rules, a company has the right to conduct an IPO within 135 days from the date of publication of the audited financial statements. If we assume that the current situation in the markets will last about six months more, then Yandex could theoretically hold an IPO before May 12, 2009.
However, according to analysts, if the shareholders of Yandex expect to receive the maximum amount from the IPO (about $ 3 billion), then it is better for them to have patience and wait until 2010.
Information about the plans of "Yandex" said a source close to the shareholders of the company. The information was also confirmed in two investment banks.
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Yandex LLC is 100% owned by the Dutch Yandex N.V. (presumably ADRs will be issued for the shares of this legal entity). About 35% of Yandex through offshore companies are owned by Internet Search Investments and Baring Vostok Capital Partners, 15% by Tiger Technologies, about 30% by the founders of the company and 20% by minority shareholders, including managers. In 2007, Yandex’s revenue grew by about 130% to $ 167 million US GAAP.
The fact is that, according to NASDAQ rules, a company has the right to conduct an IPO within 135 days from the date of publication of the audited financial statements. If we assume that the current situation in the markets will last about six months more, then Yandex could theoretically hold an IPO before May 12, 2009.
However, according to analysts, if the shareholders of Yandex expect to receive the maximum amount from the IPO (about $ 3 billion), then it is better for them to have patience and wait until 2010.
Information about the plans of "Yandex" said a source close to the shareholders of the company. The information was also confirmed in two investment banks.
')
Yandex LLC is 100% owned by the Dutch Yandex N.V. (presumably ADRs will be issued for the shares of this legal entity). About 35% of Yandex through offshore companies are owned by Internet Search Investments and Baring Vostok Capital Partners, 15% by Tiger Technologies, about 30% by the founders of the company and 20% by minority shareholders, including managers. In 2007, Yandex’s revenue grew by about 130% to $ 167 million US GAAP.
Source: https://habr.com/ru/post/41698/
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