Yandex NV (YNDX) sank to a record in New York after Goldman Sachs Group Inc. cut the stock to sell, forecasting a 31 percent drop in the Russian Internet company’s earnings this year as a weaker ruble dissuades advertisers from increasing spending. The shares slumped 8.7 percent in New York to $16.41, the lowest since the company’s U.S. …
Yandex and CTC Media sink to record as Goldman says sell Read More »
Ulmart, Russia’s leading e-commerce company, confirmed today its plan to go public next year in a yet-to-be-determined Western stock exchange, the company’s chairman and co-owner Dmitry Kostygin told Russian business daily RBC. Ulmart is thus considering raising $1 billion or more in exchange for 25% of the company’s shares. Advisers for the IPO could be …
Russian e-commerce leader Ulmart reports 50% sales increase in 2014, plans IPO in 2016 Read More »
Several key Russian tech companies are listed on Western stock exchanges. Among them are software development and service company Luxoft (NASDAQ: LXFT); Mail.ru Group (LSE: MAIL), the owner of Russia’s leading social network Vkontakte and of a range of other Internet properties; mobile operator MegaFon (LSE: MFON); payment operator QIWI (NASDAQ: QIWI); and Yandex (NASDAQ: …