Yandex plans to use the proceeds of its offering that aren't going to existing shareholders to invest in its technology infrastructure, especially new servers and data centers.
According to the prospectus that Yandex filed with the Securities and Exchange Commission, the company had 38.3 million unique visitors in March.
The financials also look good with Yandex posting a profit of $29 million on revenue of $137 million for the three months ended in March. Valuation will probably be the biggest factor when the stock makes its debut. If the pricing is significantly above range, the shares could quickly become a risky proposition.
-- Written by Debra Borchardt in New York.