Yandex N.V., which is the leading online search engine in Russia, announced terms for its IPO on Monday. The company plans to raise $1 billion by offering 52 million shares at a price range of $20 to $22. At the mid-point of the proposed range, Yandex will command a market value of $6.7 billion. Yandex, 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, which is expected to price during the week of May 23.
