Capital markets

Utinet.ru, e96.ru and Sotmarket.ru merge into one listed company

July 16, 2014

Utinet.ru, e96.ru and Sotmarket, three major Russian e-commerce companies, announced yesterday the completion of their merger process – started last year – into an integrated company, christened “Platform Utinet.Ru.” Part of the company’s stock is being floated on the Moscow exchange following Utinet’s IPO in 2011. The merger went through the acquisition of 100% shares …

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Three years after NASDAQ IPO, Yandex introduced on Moscow Exchange

June 4, 2014

Trading of Yandex shares on Moscow Exchange started yesterday in Russian rubles under symbol “YNDX”. Shares also continue to trade on the NASDAQ Global Select Market, where the search company was introduced in 2011. Sberbank CIB1, the corporate and investment banking business of Sberbank, acted as financial advisor to Yandex. In addition, Morgan Stanley & Co. …

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Russian Internet players fall then rise on Putin, Ukraine and “par for the course”

May 21, 2014

In what have been a rocky first four months of this year, leading Russian Internet companies saw interest in their stocks ebb and flow. Yandex, Russia’s NASDAQ-listed search giant, was heavily in play. Tiger Global Management, one of the largest pre-2011 IPO Yandex owners, is now completely divested of its Yandex stock, NASDAQ reports.

How Putin crashed a Russian Internet stock

April 25, 2014

With a few ill-chosen remarks, Russian President Vladimir Putin has crashed the share price of his country’s largest Internet company, the Google-beating search engine company Yandex. At the time of this writing, Yandex NV, the Dutch-registered parent company of Russia’s search giant, was 16 percent down on Nasdaq. All Russian shares were doing badly because …

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Yandex sells off Facebook shares

April 15, 2014

Russian seach giant Yandex has completed the sell-off of its Facebook shareholding. Commenting on Yandex’s Form 20-F annual report for foreign private issuers, the Russian business daily Vedomosti estimated that a 142,479 share package sold in two chunks over the past 12 months may have brought the Russian Internet company $8.1 million – a fairly …

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Billionaire Usmanov aims at China after Apple, Facebook sale

March 18, 2014

Billionaire Alisher Usmanov sold shares in Apple Inc. and Facebook Inc., focusing on technology investments in China such as Alibaba Group Holding Ltd. and may expand stakes in Russian assets, an executive said. “Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign Internet investments,” Ivan Streshinskiy, head of …

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Yandex announces proposed offering of $600 million convertible senior notes

November 19, 2014

Moscow, Russia and The Hague, Netherlands — Yandex N.V. (Nasdaq:YNDX) (“Yandex” or the “Company”), one of Europe’s largest internet companies and the leading search provider in Russia, today announced that it proposes to offer US$600 million in aggregate principal amount of convertible senior notes due 2018 (the “notes”), subject to market conditions and other factors. …

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Western investors “all looking at Russia,” claims NASDAQ boss

December 9, 2013

Just over a month ago the Moscow Stock Exchange signed an agreement of cooperation with NASDAQ OMX. Now the American Stock Exchange will advise Russian technology companies and international organisations that do business in Russia, including how to prepare for their IPO. Given the excitement of many Russian companies surrounding this announcement, the results could …

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NASDAQ, Moscow Exchange sign deal to list Russian emerging tech companies

November 4, 2013

In late October, NASDAQ and Moscow Exchange clinched a deal to join forces and help emerging Russian high-tech companies be listed on the two bourses. The two exchanges are to co-organize conferences, workshops and presentations for innovative companies and international investors under the agreement, the Moscow bourse said in a statement. The deal is focused specifically …

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Mail.ru shuts the door on US equity by shedding last of Facebook shares

November 19, 2014

In its IFRS results report for H1 2013 published last week, Mail.ru Group, a leading, LSE-listed Russian Internet group, has made public the fact that over the course of July and August it disposed of its remaining $525+ million worth of Facebook equity, a total of 14.2 million shares. The group did not disclose the …

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Office supplies retailer Live Office migrates online and goes public

July 12, 2013

This Monday, St. Petersburg-based Live Office announced the completion of its initial public offering on the Moscow Stock Exchange. The 4 million shares, or 33% of the company’s equity, were offered at 129 rubles (approximately $4) per share, valuing the company at about $47.4 million. Established in 1996, the company claims to serve 7,000 corporate …

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