Capital Group investment group doubled its stake in Yandex



    According to Cnews , the investment group of Capital Group companies recently doubled its stake in Yandex, increasing its stake to 9.7%. The total value of the package is currently estimated at $ 520 million.

    The Capital Group includes a large number of different investment funds, the management center of which is the Capital Research and Management Company. This company, in turn, operates through three divisions that are independent of each other: Capital Research Global Investors (controls 6.7% of Yandex shares), Capital World Investors (0.3% of Yandex shares) and Capital International Investors (2, 7% of shares through the legal entity Capital Group International).

    A year ago, a large stake in Yandex belonged only to Capital Group International. A year ago, this unit had a 4.5% stake in a domestic company. Now the maximum block of shares belongs to one of the investment funds included in the Capital Group. This fund owns 5% of the 9.7% stake in Yandex.

    In addition, other investors are also actively interested in Yandex assets. For example, the French Comgest Global fund not so long ago was able to collect 3.9% of the shares. Plus, the Oppenheimer fund, which now owns 11% of Yandex shares.

    Experts believe that such investor activity is due to lower prices for securities of the domestic company. So, last summer, one share of Yandex was worth about $ 35. Now the stock price is 16.34 dollars. After the stock began to lose value, some of the old holders of the company's securities began to get rid of them. For example, in 2013, the Tiger Global fund sold a 5.5% stake in the company, thus selling all Yandex securities owned by the fund. Last year, Morgan Stanley reduced its stake in the company from 4.3% to 0.7%.

    Currently, it continues to get rid of the shares of Yandex and Barring Vostok, which has already reduced the package of its securities from 6% to 4.5%.

    Foreign investors now, in aggregate, own 25.2% of the company’s shares.

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