The collection of applications for over-the-counter exchange and redemption

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ZPIF "Consortium.First", a future investor of MKPAO "Yandex", announced an offer for the exchange and buyout of shares of Yandex NV

The ZPIF proposes to exchange YNV shares for MKPAO shares at a ratio of 1:1, the consortium's press release says. Investors who purchased the company's securities in the Russian infrastructure may participate in the exchange. Up to 50.05 million shares may be exchanged within this framework. The collection of applications for such an exchange will begin no later than May 16 and will end on June 21.

"The offer is entirely voluntary oman whatsapp number database and provides an opportunity to exchange or sell Yandex NV shares, which are registered in Russian depositories. The ability to monetize such shares in the future may be limited due to the planned delisting of Yandex NV shares from the Moscow Exchange, as well as current and potential foreign restrictions on the Russian financial infrastructure," the statement said.

Those holders who transferred shares from a foreign to a Russian depository before September 7, 2022 will be able to exchange the securities; in this case, an over-the-counter exchange of up to 7.26 million shares is envisaged. These investors will also have the option of selling YNV shares to the consortium.

The consortium also offers to buy back YNV shares for 1,251.8 rubles per share. The buyback offer limit is 50.4 million shares. The buyback option can be used by investors who transferred their shares to a Russian depository before November 30, 2023.


In total, the mutual fund plans to buy back and exchange no more than 107,729,866, or 29.8%, of YNV shares for the subsequent closing of the deal to acquire Yandex's Russian business.

On this news, Yandex shares rose in price on the Moscow Exchange by 4.4% (to 4,549.8 rubles per share).

On March 7, shareholders of Yandex NV (the company’s current parent structure)approved the restructuringcompanies. The restructuring, in particular, involves the sale of the Russian Yandex business for 475 billion rubles to a consortium of private investors, the ZPIF Consortium.First.

At the end of April, Yandex reported that the first stage of the deal was expected to be closed "in the coming weeks."