Yandex valued up to 9 billion dollars

Absrtact: Beijing time April 16, according to foreign media reports, a source said, in the United States Nasdaq Stock Exchange IPOs (IPO), the market for Russia's largest internet company Yandex valuation between 6 billion to 9 billion U.S. dollars.

Beijing Time April 16, according to foreign media reports, a source said, in the United States Nasdaq Stock Exchange IPOs (IPO), the market for Russia's largest internet company Yandex valuation between 6 billion to 9 billion U.S. dollars.

Yandex's share of the internet search market in Russia is 65%, and it also operates in Ukraine, Belarus and Kazakhstan. Russia is one of the few markets in Europe that has not been controlled by Google.

The source said Yandex could sell 10% to 20% of its shares through the IPO, but did not disclose whether Yandex would sell new shares or buy existing ones. Yandex plans to IPO in late May or early June.

Yandex has commissioned Deutsche Bank, Morgan Stanley and Goldman Sachs to help with IPOs, according to people familiar with the matter.

This year, the U.S. IPO market improved, in recent weeks, several companies IPO prices than expected, the stock price is relatively high. US investors have been favoring the shares of Internet companies in emerging markets. "We believe Yandex's reasonable valuations are around $7 billion trillion," said David Ferguson, an investment agency Renaissance Capital analyst David Ferguson, according to Yandex, the company's revenues will grow 30% this year and next.

Yandex said the company's revenues rose 43% to $410 million in 2010. Renaissance Capital in the valuation of Yandex borrowed from Google and Baidu's share price.

Another Russian internet company, Mail.ru, raised about $1 billion trillion last November through an IPO, valued at $5.71 billion trillion. Ferguson said the Yandex valuation is higher than mail.ru because the search advertising market is growing faster than the display advertising market, and profits are higher than the latter, "I believe that unless the situation worsens further, the earthquake and the Middle East unrest in Japan will not have a significant impact on the Yandex IPO".

Investment funds, including Baring Vostok Capital Associates, hold a 61% per cent stake in Yandex, management and staff holdings of 24%, and private investors and former employees with a stake of 5% per cent for 10%,yandex stock option holders.