“ Yandex “ the Russian searcher " has not found a stock exchange; Yandex “ can postpone primary placing of actions on NASDAQ, planned for the third quarter 2008: shareholders will wait stabilisation in the world financial markets. Placing “ Yandex “ could take place with essential discount for its owners, analysts consider: in the beginning of year they estimated a search engine in $2,5 - 3 mlrd, now - approximately in the same sum.
“ Yandex “ will postpone IPO without day if the situation in the financial markets is not stabilised till October, have told “ “ the investment bankers close to the transaction. “ at “ Yandex “ there are owners who wanted to leave the company capital this year through IPO. But it is obvious, they will not do it if cannot provide to itself comprehensible profitableness “ - one of interlocutors " has explained; “. The head a press - services “ Yandex “ Michael Ushakov has refused comments.
as informed “ “ in number from February, 15th, “ Yandex “ plans to spend IPO on American NASDAQ in the third quarter of this year. Mandates on organisation IPO have received Deutsche Bank, Morgan Stanley and “ the Renaissance the Capital “. Sources “ “ noticed that the package for placing in stock market is not defined, but “ the most part obtained from IPO means will be received by the owners, decided to sell the actions “.
By data “ SPARK - Interfax “ Open Company “ Yandex “ on 100 % belongs Dutch “ Yandex N. V “ (on a stock exchange it is planned to deduce actions of one of the companies, entering in “ Yandex N. V “. - - “ “ ). About 35 % “ Yandex “ Through an offshore 15 % - Tiger Technologies, about 30 % to founders of the company and 20 % - to minority shareholders, including managers belong to funds Internet Search Investments and Baring Vostok Capital Partners. In 2007 a gain “ Yandex “ has grown approximately on 130 % and has made $167 million on US GAAP.
Yesterday it became known that the Russian businessman Alisher Usmanov carries on negotiations for purchase approximately 10 % “ Yandex “. The source close to mister Usmanov, has confirmed this information, but has noticed that the transaction is not closed yet. In “ Yandex “ and Baring Vostok to make comments on it have refused. A source “ “ of other investment bank assures that “ negotiations with Alisher Usmanov and preparation IPO - two parallel processes, not connected among themselves “.
In February investment bankers told “ “ that shareholders “ Yandex “ counted on capitalisation in $2,5 - 3 billion Operating partner Moorgate Capital Andrey Zubkov considers that now the company can be estimated conditionally, prodiskontirovav its February cost on average size from falling of index NASDAQ and RTS. Since February, 1st of this year value of index NASDAQ Composite has decreased approximately on 12 %, RTS - on 46 %. Thus, average value makes approximately 30 %. Proceeding from this data, cost “ Yandex “ now it is possible to estimate in $1,75 - $2,1 billion For comparison: for the same period “ Gazprom “ became cheaper on 44 %, “ Norilsk nickel “ - on 59 %, Rambler Media - on 51 %. An analyst of fund “ finam - IT “ Leonid Delitsyn says that if to consider animators EV/ EBITDA for Google and Yahoo, “ Yandex “ hardly can receive an estimation over $2 billion
“ Yandex “ not unique the Internet - the company, decided to postpone planned this year IPO. As informed “ “ In number from July, 30th, Mail. ru too has decided to wait a little with an exit on a stock exchange - at least till 2009. “ the reason very simple: all shareholders who wanted to sell shares, have made it, and sense to hurry up are not present " more; - spoke then “ “ the general director of the company Dmitry Grishin. As he said, in case of IPO in the third quarter of this year the company would cost a maximum of $1,5 mlrd while shareholders counted on $2 billion