Russia’s largest search engine "Yandex" has decided to play for high stakes and appreciated its shares on Tuesday night, the eve of the start of trading them on the American Stock Exchange NASDAQ, for $ 25 apiece, that is above the upper limit of the range of IPO. This is an informed source told Bloomberg.
The capitalization of the company that controls about 65% of the domestic market for Internet search was thus more than 8 billion. Earlier, analysts called fair evaluation of all search engine at $ 7 billion. In total, the search engine IPO attracted $ 1.3 billion by selling 52.2 million shares.
As a result of IPO «Yandex" has become the most expensive Russian IT-company. Last November, the IPO had another major player in this market, Mail.Ru Group. The company posted a 18% stake in London, having gained about $ 1 billion. In general, the owner of the mail service Mail.Ru, ICQ messenger and social network "Facebook" investors valued at 5.71 billion dollars.
It is not clear how to behave after the start of trading in shares them today. When the U.S. opened NASDAQ and the scoreboard will be a new ticker — YNDX — in Moscow will be 18:30. Some analysts believe that the "Yandex" can duplicate the effect of LinkedIn, whose shares on the first day after the placement added to the IPO price of more than 100 percent.
At the same time, says Bloomberg, shares and so is very high priced. Adjusted for the size of the company‘s revenue, "Yandex" is worth twice as much as the world’s largest search engine, Google. The capitalization of U.S. companies is 13 times the expected earnings for 2012, while the capitalization of "Yandex" at the time of IPO — 23 times the expected earnings for the next year.
"Yandex" has chosen an excellent time for the IPO technology company — says Managing Director and Head of Emerging Markets Bank of New York Mellon Corp. Anthony Moro. — In the long term, they are moving in the right direction. They — the Russian Google ".