Yandex Announces Secondary Offering Of Class A Shares By Selling Shareholders

MOSCOW and THE HAGUE, Netherlands, March 11, 2013 (GLOBE NEWSWIRE) -- Yandex N.V. (Nasdaq:YNDX), one of Europe's largest internet companies, today announced the commencement of an underwritten public offering of an aggregate of 24,253,987 Class A shares by existing shareholders BC&B Holdings B.V., Belka Holdings Limited, Ilya Segalovich and Emerald Trust. The selling shareholders have also granted the underwriters of the offering an option for 30 days to purchase up to an additional 2,425,399 Class A shares. Yandex will not receive any proceeds from the offering.

BC&B Holdings B.V. holds shares on behalf of various funds advised by Baring Vostok Capital Partners Limited, of whose subsidiary one of our non-executive directors, Elena Ivashentseva, is a senior partner. Belka Holdings Limited is an affiliate of Arkady Volozh, our Chief Executive Officer and an executive member of our board of directors. Ilya Segalovich is our Chief Technology Officer and an executive member of our board of directors. Yandex, each of the selling shareholders, and Arkady Volozh have agreed with the underwriters to a lock-up in respect of Yandex shares for a period of 90 days.

Morgan Stanley & Co. International plc, Deutsche Bank Securities Inc. and Goldman, Sachs & Co. are acting as joint bookrunners for the proposed offering. Morgan Stanley is acting as stabilization manager for the proposed offering.

An automatic shelf registration statement relating to the Class A shares of Yandex to be sold in the offering was filed today with the Securities and Exchange Commission (SEC) and became effective upon filing. The offering of these Class A shares is being made only by means of a prospectus and prospectus supplement. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov . Alternatively, the prospectus and prospectus supplement may be obtained from the offices of Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone at: [phone] or by emailing [e-mail]; from Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, NY 10005-2836, by telephone at: [phone] or by emailing [e-mail]; or from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at: [phone] or by emailing [e-mail].

This announcement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

1 2 Next › Last »