'Russian Google' IPO Expected to Raise $1.3 Billion
Biggest offering in tech since the original Google pricing
Yandex, the “Google of Russia,” will issue an IPO on the Nasdaq this Tuesday, and it's expected to raise $1.3 billion—the most money of any tech company since Google went public in 2004. The stock was priced Monday night at $25 per share, the top of its range. Its original offer price was $20 to $22.
Yandex, which stands for “Yet Another Index,” is Russia’s leading search engine, controlling about 65 percent of the country’s search market.
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