Based in The Hague, Netherlands, Yandex N.V. (YNDX) is scheduling a $1.1 billion IPO with a market capitalization of $6.7 billion at a price range mid-point of $21 for Tuesday, May 24, 2011. The full IPO calendar includes seven others for a total of $3.25 billion.
SUMMARY -- YNDX is the leading Internet company in Russia.
FYI: Russia's president, Medvedev, is warning of a new Cold War with the west, which presents an investment risk. However, if Russia drives out Internet competition like China did for the search engine Baidu, then YNDX would benefit.
YNDX generated significant recent growth, comparing the March 2011 quarter with the March 2010 quarter
- Sales were up 65% to $139 million.
- Profit was up 61% to $29 million.
VALUATION -- YNDX at the mid-point of the price range is valued between Google (GOOG) and China-based Baidu (BIDU).
Annualizing the two quarters ended March 2011 the
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Reese Witherspoon Jordana Brewster Laetitia Casta Claudette Ortiz Julia Stiles
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