Bill Simpson submits: This analysis of Yandex (YNDX) was provided to TradingIPOs subscribers in advance of its IPO. On May 14, the company announced that its initial public offering of 52.2 million American depositary shares was priced at $25 per ADS.
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Yandex plans on offering 57.7 million shares at a range of $20-22. Insiders will be selling 40 million shares in the deal. Morgan Stanley, Deutsche Bank, and Goldman Sachs are leading the deal, Piper Jaffray and Pacific Crest co-managing. Post-IPO, YNDX will have 323.3 million shares outstanding for a market cap of $6.79 billion on a pricing of $21. IPO proceeds will be used for general corporate purposes.
The two founders will own 49% of YNDX combined post-IPO. Each has agreed to a one year lock-up of their shares.
From the prospectus: "We are the leading internet company in Russia, operating the most popular search engine and the most visited website."
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People who take linkedin and facebook seriously deserve to suffer serious career damage. Social networks are for social retards. They are brought to you by aghadhimmics whose patron saint was Walt Whitman, the guy who only had sex with himself and believed in the Gnostic Gospels. Those who use lint tin and futz book are narcissist masochist clowns governed by affectation. Is a vulture capitalist who only invests in firms which appear as friends of friends really exercising the fiduciary responsibility he is paid for? Do we forget a quarter century ago these banksters patted themselves on the back that firing Steve Jobs was the right thing to do? Or when Gerry Carmen's GSA foisted IBM mainframes on everyone in the government just as the PC and interactive computing were dawning? The same nuts who consider it modern to make emailing a symptom to your doctor into a HIPPA violation. Or when they relied on the witchcraft of technical analysis instead of the hard work of market fundamental, stealing instead of inventing even that, and concentrating more on the imitation than substance, causing the markets to crash? Or banksters who shell game inconsistent products, shifting fees and agreements by surprise, because their autopilot brains were unable to comprehend what real service is? How can you trust people who submit to affectations instead of genuine reality? Given how such fads ran amok in the recent crisis, such individuals should be denied serious employment in the future. Social networking is a bubble that needs to be shut down before it bankrupts all of us. That’s why all the idiot hedge funds donated to Obama!
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