Yandex Announces Pricing of Upsized Public Offering

MOSCOW and AMSTERDAM, The Netherlands, June 25, 2020 (GLOBE NEWSWIRE) -- Yandex N.V. (NASDAQ and MOEX: YNDX) (“Yandex,” “we” or the “Company”), one of Europe’s largest internet companies and the leading search and ride-hailing provider in Russia, today announced the pricing of its public offering of 8,121,827 newly issued Class A shares at a public offering price of $49.25 per Class A share. In addition, Yandex has granted the underwriter a 30-day option to purchase up to an additional 1,218,274 Class A shares at the public offering price per share. The public offering is expected to close on June 29, 2020, subject to the satisfaction of customary closing conditions. Goldman Sachs & Co. LLC is acting as the sole bookrunner and underwriter for the public offering.

In addition, concurrent with the public offering, Yandex intends to sell, subject to the consummation of the public offering and other customary conditions, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), 4,060,913 Class A shares to each of three private investors, or an aggregate of 12,182,739 Class A shares, at the public offering price per share. The investors in the concurrent private placement (the “Investors”) are JSC VTB Capital, the investment business arm of VTB Group, a Russian bank and global provider of financial services; Ervington Investments Limited, a company whose ultimate beneficiary is Roman Abramovich; and Treliscope Limited, a company whose ultimate beneficiaries are Alexander Abramov and Alexander Frolov. The consummation of the public offering is not contingent on the consummation of the concurrent private placement. Goldman Sachs International is acting as the sole placement agent for the concurrent private placement.

The aggregate gross proceeds from the public offering and the concurrent private placement are expected to be approximately $1.0 billion, before deducting underwriting discounts and commissions, placement agent fees, and estimated aggregate offering expenses.

A preliminary prospectus supplement and the accompanying prospectus relating to the public offering was filed with the Securities and Exchange Commission (the “SEC”) on June 23, 2020. The final prospectus supplement relating to the public offering will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the public offering may be obtained, when available, by visiting EDGAR on the SEC website at www.sec.gov or from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at [phone] or by email at [e-mail]. The final terms of the public offering will be disclosed in a final prospectus supplement to be filed with the SEC.