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Yandex Plans $1B Nasdaq Listing

Yandex is seeking to raise up to $1 billion through an initial public offering.

Yandex is seeking to raise up to $1 billion through an initial public offering (IPO), The Wall Street Journal reports. The Russian internet search engine plans to list the company on New York-based NASDAQ.

The Moscow-based company seeks to use the proceeds for investments in technology infrastructure, new servers and data centers, adds Reuters. Yandex has appointed Morgan Stanley, Deutsche Bank and Goldman Sachs Group to manage the offering.

Click here for the story from The Wall Street Journal.

Click here for additional cove rage from Reuters.

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