Yandex appeals beyond dotcom buyers
Russian internet search firm Yandex caught the zeitgeist on Monday with a $1.30bn Nasdaq IPO as investors shrugged off concerns over interference by the Russian government and instead celebrated the remarkable performance of recent dotcom listings such as LinkedIn.
Global coordinator and bookrunner Morgan Stanley and bookrunners Deutsche Bank and Goldman Sachs priced the deal at $25 a share, above the range of $20-$22, following a double-digit oversubscription multiple. The stock soared 55% to close at $38.85 on its debut.
A total of 57.39m Yandex shares, including a
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