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Yandex files for a $1 billion IPO

April 28, 2011

Yandex N.V., which is the leading search engine in Russia, filed on Thursday with the SEC to raise up to $1 billion in an initial public offering. The Netherlands-based company, which was founded in 1989 and booked $494 million in sales for the 12 months ended March 31, 2011, plans to list on the NASDAQ under the symbol YNDX. Morgan Stanley, Deutsche Bank Securities, and Goldman, Sachs & Co. are the lead underwriters on the deal. No pricing terms were disclosed.