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Investing

Yandex IPO Arrives Hot as Baidu/Google of Russia (YNDX, GOOG, BIDU)

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By Jon C. Ogg Published

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Yandex N.V. (NASDAQ: YNDX) is set to raise about $1.3 billion as this top Russian search engine has reportedly priced above the range it was slates to debut.  Our indications were down at $20 to $22 per share but the reports out this morning indicate a $25 pricing for some 52.5 million shares.

This company is yet another “So and so of some other BRIC nation” and this one is compared to Google Inc. (NASDAQ: GOOG) more than anything.  Yandex’s reference is “The Google of Russia” even though Google s really “the Google of Russia” when you consider the market share in adjacent nations where both companies operate.  Others are comparing it to Baidu Inc. (NASDAQ: BIDU) as “The Baidu.com of Russia” and that is probably more appropriate.

The lead underwriters are Deutsche Bank, Goldman Sachs, and Morgan Stanley. 

Our indications are that the deal is being priced at closer to 25-times next year’s expected earnings.  There are several key reports to consider here:

JON C. OGG

Contact [email protected] for any questions or corrections.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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