Market is fairly apolitical and predominantly value-seeking
Show Me the Money! 26 June, 2020, by Vladimir Rojankovski, Head of analytical dept., Grand Capital
Yandex has doubled the size of its new share offering to $400 million, which combined with private placements will raise $1 billion to finance acquisitions and growth.
This week, Yandex moved to divorce from Sberbank on their two joint projects, Yandex.Market and Yandex.Money, and announced plans to raise $200 million in new shares and another $600 million in private placement to fund the growth.
According to Yandex spokesman, the increase was due to a high demand as the order book was heavily oversubscribed. Yandex shares closed yesterday with a half percent gain, and its story, along with such names as Qiwi, or Alibaba – demonstrates that the market is fairly apolitical and predominantly value-seeking.
Yandex has doubled the size of its new share offering to $400 million, which combined with private placements will raise $1 billion to finance acquisitions and growth.
This week, Yandex moved to divorce from Sberbank on their two joint projects, Yandex.Market and Yandex.Money, and announced plans to raise $200 million in new shares and another $600 million in private placement to fund the growth.
According to Yandex spokesman, the increase was due to a high demand as the order book was heavily oversubscribed. Yandex shares closed yesterday with a half percent gain, and its story, along with such names as Qiwi, or Alibaba – demonstrates that the market is fairly apolitical and predominantly value-seeking.