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Tuesday, March 12, 2013

Yandex shareholders to sell shares worth $600 mln, (NASDAQ: YNDX)

Russia's most popular search engine Yandex NV said on Tuesday its existing shareholders, including co-founder and CEO Arkady Volozh, will sell about 7.4 percent of the company's shares worth roughly $600 million.Yandex said a total of 24.25 million shares would be offered on Tuesday by BC&B Holdings B.V., which holds shares on behalf of Baring Vostok funds, as well as by Volozh's affiliate, Belka Holdings Ltd, chief technology officer Ilya Segalovich and Emerald Trust.It did not disclose the price of the offering. Based on Monday's closing price of $25.03 a share, the stake is worth around $607 million, according to Reuters calculations.Yandex will not receive any proceeds from the offering, it said in a statement.

Yandex N.V. (Yandex) is an Internet company in Russia. Shares of YNDX traded higher by 0.44% or $0.11/share to $25.03. In the past year, the shares have traded as low as $16.65 and as high as $28.14. On average, 2062860 shares of YNDX exchange hands on a given day and today's volume is recorded at 1586600.



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