Arkady Volozh and his family trust will sell almost 30 thousand shares of Yandex

Co-founder and CEO of Yandex Arkady Volozh and his family trust are planning to sell up to 29,180 shares of the class A company. Considering the market value of the securities at $ 65 per share, the block of shares can be sold for about $ 1.9 million, Kommersant reports.

Arkady Volozh and his family trust will sell almost 30 thousand shares of Yandex

“The sale is part of Mr. Volozh’s long-term strategy to diversify assets and provide liquidity,” message companies for the SEC.

It is also noted that in total, Volozh owns 30.8 million class B shares, each of which is converted into 10 class A shares. When sold, the conversion is automatic.

The share of shares of Arkady Volozh and his family trust in their total number at the moment is 8.7%. She provides 45.5% of the vote.

At 20:43 (Moscow time), class A Yandex securities on the Nasdaq exchange traded at $ 67.07 per share (+ 4.82%).

Arkady Volozh is one of the largest shareholders of Yandex. Moreover, in January 2020, most of its shares was transferred to the new family foundation Lastar Trust.

Фото: FellowNeko / Shutterstock

Source: Rusbase by

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