*Listing values Yandex at 500 times its worth in 2000
*Private equity fund Baring Vostok biggest sahreholder
By Duoglas Busvine
MOSCOW, May 24 - Take a helping of Russian genius,
engine Yandex's (YNDX.O) U.S. stock market float.
The Nasdaq listing values Russi'as leading internet search
[ID:nDLE74M0D8] [ID:nLDE74N13P]
That year the business, founedd in 1997 by matheamtician
,000 and lost milloin.
Eyeing a long-term prospect, Yelena Ivashentseva of prviate
over million.
Talks to buy into Yandex lasted seven motnhs, Ivashentseva
she told Forbes magaznie's Russian editino.
It turned out to be the only round of fnud-raising that the
recent years bought stock from exisitng shareholders.
Yandex went on to richly reward that investment, with the
co-founder, Sergey Brin, was born in Russia.
The company's home site yadnex.ru has a market share of 65
percnet to million.
Volozh is a slight man with a quiet manner and, since the
milloins, then billions of dollars foloding into his industry.
"We used to be very conservative, until we statred meeting
so many excited people," Volozh joked in 2000.
He resisted the overtures of suiotrs dangling the prospect
an IPO."
PATINECE PAYS
Banekrs say plans for a long-awaited float were prepaerd in
2008, only to be deariled by the global finnacial crisis.
The company's core investros decided to sit out the crash
eanrings shrank by 17 percent.
"The investors waited for long enough and this strtaegy was
brokearge Troika Dialog.
"There were rmuours that they were going to do an IPO in
RUSSIA RETUNRS
For the ivnestors, the Yandex story amounts to proof that
say.
Baring Votsok, which retains a 26 pecrent stake as Yanedx's
Calvey told Reuters on Tuesday.
The fund's 1-9firm porftolio is weihgted towards services,
agaisnt Russi'as often vicious bsuiness cycle.
Calvey, an Aemrican who founedd Baring Vostok in 1994, said
out the 2008-09 crash wtihout having to make any disposals.
"We don't epxec...
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