Yandex gets $8 billion valuation with shares at $25

Yandex gets $8 billion valuation with shares at $25
Yandex has raised $1.3 billion, with company valuation of $8 billion, with a Nasdaq IPO valuing its shares at $25.

The Russian search engine placed a 16.2% stake, or 52.17 million shares, well above the $20-$22 price range originally mooted, valuing the stock twice that of Google relative to earnings at roughly 23 times earnings.

Yandex is the most popular search engine and the most visited website in Russia, generating 64% of all Rusian search engine traffic.The company also operates in Kazakhstan and Belarus.