ALRUD acted as Russian counsel for underwriters Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Goldman, Sachs & Co. as representatives of the several underwriters in connection with the SEC-registered initial public offering of Class A shares of Yandex N.V. for an aggregate price to the public of approximately $1.4 billion. The shares are listed on the Nasdaq Global Select Market under the symbol 'YNDX.' The offering was the biggest technology IPO worldwide this year and the largest IPO of an Internet company since Google Inc.’s IPO in 2004.
Yandex is one of the leading companies in the Russian Internet industry operating the most popular search engine and the most visited website in Russia. Aside from Russia, Yandex is also utilized in Belarus, Ukraine and Kazakhstan and by the Russian speaking community worldwide.
ALRUD team was led by the Senior Partner Vassily Rudomino, who has successfully advised underwriters to the Mail.Ru Group IPO last year. Advice was provided in cooperation with Davis Polk & Wardwell LLP.