OREANDA-NEWS.   Yandex (Nasdaq:YNDX), one of Europe's largest internet companies and the leading search provider in Russia, and Moscow Exchange today jointly announce that Yandex has received approval for listing of its Class A shares (the “Shares”) in the Listing A Level 1, top quotation list on Moscow Exchange. Trading of Yandex Shares on Moscow Exchange is expected to commence on June 4, 2014 under symbol “YNDX”. Quotation and settlement of the Shares will be in Russian rubles. Yandex Shares will also continue to trade on the NASDAQ Global Select Market.

“This local listing responds to demand from investors in Russia and benefits Yandex,” said Arkady Volozh, Chief Executive Officer of Yandex. “We anticipate that the listing will broaden the company’s shareholder base internationally and stimulate investor interest.”

“Since early last year we have seen strong interest in Moscow listings from companies incorporated outside Russia that have Russian assets. This trend is driven by reforms to the market infrastructure and the increased liquidity and depth of the Russian market,” said Alexander Afanasiev, Chief Executive Officer of Moscow Exchange. “Shares of Polymetal and depositary receipts of QIWI and Lenta already trade on Moscow Exchange. We expect that Moscow-traded shares of a major new name from the technology sector will be of interest to both institutional and retail domestic investors.”

Sberbank CIB1, the corporate and investment banking business of Sberbank of Russia, is acting as financial advisor to Yandex. In addition, Morgan Stanley & Co. International plc. advised Yandex on certain issues related to the dual listing of its shares.

Neither Yandex nor its existing shareholders are undertaking any offer or sale of shares in connection with the listing, and this announcement does not constitute an offer to sell or the solicitation of an offer to buy securities of Yandex.

Yandex also announces that its board of directors has recently authorized the company to opportunistically repurchase its 1.125% convertible senior notes due 2018 on the open market from time to time.

1 On the basis of CJSC “Sberbank CIB”