Yandex has appointed two banks as underwriters for its planned initial public offering (IPO) worth $1 billion, Bloomberg reports. Morgan Stanley and Deutsche Bank have been picked by the Russian search engine for its IPO. Moscow-based Yandex may file the offering with the U.S. Securities and Exchange Commission in February and would become public by June this year. The details of the IPO of the company, which may trade on the Nasdaq Stock Market, have not yet been disclosed.

Click here for the story from Bloomberg.