Moscow – Top Russian search engine Yandex has filed for an
initial public offering of shares on the Nasdaq that aims to raise as much as
$1.2 billion.

The company said a total of 52.7 million shares will be offered, which
intends to price at $20 to $22 per share.

Founded in 1997, Yandex counted 38.3
million unique visitors in March, and attracted 64% of total Russian search
traffic in 2010.

The company reported 2010 revenues of $440 million, and has
raised over $5 million in venture capital financing.


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