The Yandex Board of Directors has decided to increase the authorized capital by placing additional ordinary shares in order to implement a long-term incentive program based on ordinary shares. This is stated in the company's message.
Under a closed subscription, it is planned to place 3.9 million securities in favor of ESOP SPV LLC.
The total number of shares placed in this additional issue will be calculated based on the number of shares indicated in the option exercise statements received before October 31, 2025, and determined by the share purchase and sale agreement concluded by Yandex with the ESOP SPV as part of the placement. The ESOP SPV will provide Yandex with a document confirming the refusal to purchase a portion of the outstanding shares in respect of the amount not claimed based on the incentive program.
The maximum volume of the placement can be up to 0.99% of the authorized capital of Yandex ICPAO (the total number of outstanding shares is 393959447 shares). Yandex expects that the average annual share placement volume for the incentive program will not exceed 2% of the base level of 379 million shares at the start of the program.
ICPAO Yandex is a private technology company that became the parent company of the Yandex Group after the completion of the restructuring.
Yandex creates services and products based on artificial intelligence that help users and businesses online and offline.
Yandex has been working on a popular search engine in Russia since 1997. The company develops ridetech and foodtech areas, manages navigation, advertising and entertainment services, engages in e-commerce, financial technology, logistics and cloud computing, and offers educational projects for people of different ages. The company has a Yandex Plus loyalty program that combines various company services.
Yandex's adjusted net profit for 2024 under IFRS increased by 94% to RUB 100.9 billion from RUB 52.1 billion a year earlier. Net profit fell by 79% to 11.5 billion rubles from 55.6 billion rubles. Revenue increased by 37% to RUB 1.09 trillion from RUB 798.1 billion, adjusted EBITDA increased by 56% to RUB 188.6 billion from RUB 120.8 billion.
Yandex's net loss under IFRS for the first quarter of 2025 amounted to 10.8 billion rubles against a profit of 20.1 billion rubles a year earlier. Revenue increased by 34% to RUB 306.5 billion from RUB 228.3 billion.
Yandex's adjusted net profit under IFRS in the second quarter of 2025 amounted to 30.4 billion rubles, an increase of 34% year-on-year.
