WilmerHale has advised Yandex, the leading internet company in Russia, on its secondary public offering of Class A shares, with aggregate proceeds of $607 million. Yandex operates the most popular search engine and the most visited website in Russia, and its Class A are traded on the NASDAQ Global Select Market under the symbol "YNDX." Yandex did not receive any proceeds of the offering by selling shareholders.
The WilmerHale team on the deal was led by London-based Partner Tim Corbett, who noted, “this transaction further demonstrates WilmerHale’s strengths in providing cross-border capital markets and corporate advice." The team included Partner Jonathan Wolfman and Associate Shira Fox from the Corporate Group, as well as Partner Richard Andersen from the Tax Group.
WilmerHale has represented Yandex in a number of the company’s significant transactions, including its $1.4 billion initial public offering and listing on the NASDAQ Global Select Market in 2011, and its recent electronic payments joint venture transaction with Sberbank (the Savings Bank of Russia).