Yandex to Debut After Pricing Above Range
Shares of Russian search engine Yandex NV will begin trading Tuesday after its initial public offering was priced Monday night at $25 a share, above its expected range.
The company sold 52.2 million Class A shares, raising a total of $1.3 billion. Yandex had originally set its expected price range at $20 to $22. The stock will trade on the Nasdaq under the symbol YNDX.
Yandex, the largest Russian Internet company by revenue, is also its most popular search engine, generating 65% of all search traffic in a country that isn’t dominated by Google Inc.