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Yandex Abstains from NASDAQ IPO ’til 2009

Let's wait awhile

Russian search engine Yandex has decided to withhold its planned fall IPO until 2009, reports Profy.

Official reasons were not explained, but Profy, which gleaned its report from Russian news source GZT, pointed out that the Russia-Georgian conflict, coupled with an unfavorable IPO market, made waiting seem wise., another major portal and search site in Russia, also opted to delay its London IPO until 2009.

Yandex's $2 billion IPO on the NASDAQ would have valued the company at $5 billion. Silicon Alley Insider, which valued it at $3 billion earlier this year, pegged it No. 6 in its list of the top 25 most valuable companies in the world.


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