Yandex to buy back up to 12 million shares
Northern, WI 03/14/2013 (avauncer) - European internet company Yandex NV (NASDAQ:YNDX) said its co-founder and chief technology officer Ilya Segalovich, along with other shareholders BC&B Holdings B.V., Belka Holdings Limited, and Emerald Trust are selling 24.25 million shares.
The selling shareholders have also granted the underwriters an option for 30 days to buy up an additional 2.4 million shares. The offering is expected to close on March 18.
Yandex has announced a program to repurchase up to 12 million shares.
Analyst David Reynolds has given a “Buy” rating for Yandex at $35 price target.
Shares of Yandex NV (NASDAQ:YNDX) declined by 0.33% to close at $24.08
Lisa Johnson
Lisa Johnson is an award-winning journalist, host, author and critic, who has appeared as an expert on the CBS Early Show, NBC s Today Show, Dr. Phil, CNN, CNBC, Fox News, CNBC, Bravo and many more. Her work has been featured in The Wall St. Journal, the New York Times, Forbes, Oprah.com, AOL and numerous other media outlets. She has authored three books from major publishers
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