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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV