Wednesday, December 3, 2008

Yandex stop your production of its shares

The biggest Russian search engine and Web portal «Yandex» postponed the primary placement of its shares (IPO) for an indefinite period. First public offering was planned for the third quarter of this year. Now the IPO could take place until May 2009 th, but only if the situation in financial markets will soon stabilize. IPO to be held in the U.S. high-tech NASDAQ stock market in Silicon Valley.

yandexJune 20 «Yandex» even opened its own office in California - Yandex Laboratories, - headed by peremanil one of the top managers caught up in crisis Yahoo. Defectors Vish Mahidzhani was previously directed at Yahoo Search, and until then engaged in the same company Inktomi. Before the first half of 2009, Yandex Laboratories should have been a small representation of staff 10-12 staff. The official purpose of opening representative offices (in the version «Yandex») - to support the search quality. According to the guide, «Yandex» became a company of international standing, and it needs to maintain contact with other major players in this market that is easier to do, while next to them - in the United States.

«Yandex»: the largest Russian-language search engine. Founded in 2000. Owns Internet portal, a daily audience of more than 5 million people. Owners: more than 30% of the shares owned by funds ru-Net Holdings and Baring Vostok Capital Partners, 15% - Fund Tiger Technologies, about 30% - the founders of the company, and 20% - managers and other minority. Revenues company «Yandex» on the basis of 2007 amounted to $ 167 million, while revenues compared with 2006 grew by approximately 130%. The main source of income that was contextual advertising. The ratio of content and banner advertising in the structure of income «Yandex» for 2007 virtually unchanged.

Nevertheless, the amount of money that «Yandex» will be able to attract, through placement of shares in the West, after the crisis had fallen sharply. If the beginning of the year, known as the sum of $ 5 billion, but now analysts caution: if shareholders want to be able to assess «Yandex» least a $ 3 billion, the IPO should be postponed altogether until 2010. Recently, the Russian business newspaper «Kommersant», with reference to a source close to the shareholders of the company, reported that the IPO «Yandex» certainly not take place this year. The shareholders have decided to postpone the IPO indefinitely due to the global financial crisis. This information confirmed sources in the two investment banks, directly involved in the preparation of exit «Yandex» on the stock market. Quote: «From idea IPO« Yandex »did not refuse, but under the current circumstances it is inappropriate. Earlier, sources in the Investbank reported that shareholders «Yandex» intend to move the IPO for an indefinite period if the situation in the financial markets do not stabilize until October ». According to data from other sources, theoretically share «Yandex» could be held until May 12, 2009-first. Another quote: «The company has the right to hold IPO on NASDAQ during the 135 days since the publication of audited accounts. It can be assumed that the current situation in the markets will last approximately six months, that is «Yandex» theory may hold IPO up to 12 May, 2009 ». However, I must point out that the issue (number and value of the shares placed) «Yandex» has not yet been approved. Moreover, the current instability Amount traditional financial instruments to calculate at all is virtually impossible. I recall that earlier this year mandates for organizing and conducting the IPO «Yandex» were Deutsche Bank, Morgan Stanley and «Renaissance Capital». They are now more affected by the transfer date of IPO. By the way, not so long ago in the online media has passed a message that the prominent Russian businessman, billionaire Alisher Usmanov is negotiating with one of the shareholders to purchase 10% «Yandex».

«Yandex» - is not the first Internet company reshivshaya not hold scheduled for this year's IPO. In July, so did the shareholders, which have experienced occupancy in 2009. Despite this failure is widely razreklamirovannogo loud and propiarennogo entering the stock market, the company continues to grow. 29 September, 2008 «Yandex» summed up the second year of full-scale work for its advertising network (RSYA). During the year, the monthly number of conversions of users participating sites RSYA to sites of advertisers has increased threefold. Every day, more than 10 million users see ads Yandeks.Direkta ad network. A little earlier - September 15 - «Yandex» began construction of a new, sixth on the account, data-center - in Ivanteevke. Its opening is scheduled for late 2008. In Ivanteevsky data-center located more than 7 thousand servers. The area is 2500 m2, summing power - 4 MW. Yandex plans to join Ivanteevsky data-center, with its own Moscow optovolokonnym ring. Finally worth recalling that the company «Yandex» entered the recovery in November 2002, the summer 2003rd Board of Directors decided to pay dividends, the first in runet. In summer 2006, a week-long turnover of placing contextual advertising Yandeks.Direkt exceeded $ 1 million for 2006 revenue and net profit of the company rose more than doubled - to $ 72.6 million and $ 29.9 million, respectively. All accounting «Yandex» since 2000 audiruetsya by Deloitte & Touche.

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