Online guide to the Russian tech market
Home News Ben Hopkins

Long term Yandex shareholder Tiger sells its last shares

0 19 May 2014

US investment fund Tiger Global Management has sold its remaining shares in Yandex

Tiger, which was one of Yandex’s first investors, owned as much as 20.5% of the company on the eve of its 2011 IPO. By the end of 2013 that figure had been dramatically reduced to just 631,000 shares (0.02%). While Yandex’s share price has fluctuated this year, the sale of these remaining shares could still have raised $19 million for the fund, though the amount received depends on exactly when they were sold. 

Yandex, like other Russian companies listed abroad, has seen its share price sink this year as tensions between Russia and the West have made investors nervous. Yandex’s cause wasn’t exactly helped by Vladimir Putin’s remarks about the company being ‘pressured’ into having Westerners on its board, and questions about its headquarters in the Netherlands.

Tiger continues to hold 850,000 shares in Russian payment services provider Qiwi.

Top image via Shutterstock

More on the topic

comments powered by Disqus

Author

via social network

Facebook
Google
Twitter
Linked in
Vkontakte