After Russian investment group Finam spread rumors of a delayed Yandex IPO last September, it now appears to be definite. According to business daily Kommersant, several investment bankers have said that the Yandex shareholders decided to postpone the $2 billion IPO – which was planned for fall 2008.
After Finam told the press its market expectation was that the IPO would be delayed due to the unstable political situation in Russia, Yandex didn’t confirm this. So the general opinion remained that the IPO was still on track. Yet after the recent credit crunch, it isn’t too surprising that the shareholders aren’t fond of an IPO.