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Yandex Raises $1.3B In IPO

Yandex, the owner of a Russian internet search engine, has raised $1.3 billion in an initial public offering.

Yandex, the owner of a Russian internet search engine, has raised $1.3 billion in an initial public offering, The Wall Street Journal reports. The Moscow-based company sold 52.2 million shares at $25 each.

The company initially planned to sell the shares at $20-22 each. The offering was led by Morgan Stanley, Deutsche Bank and Goldman Sachs.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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