bne_newspaper_August_02_2019

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August 2, 2019 www.intellinews.com
Discussion of foreign ownership cap on "significant" internet companies rocks Yandex shares
IntelliNews Pro
Shares of Russian internet major Yandex recovered some of their loses in Moscow
and New York on July 29 after high-ranking government officials have criticised a recent State Duma bill that suggests limiting foreign ownership in "significant" internet companies to 20%.
Russian issuers place $7bn Eurobonds in 1H19, almost beat 2018
IntelliNews Pro
Russian corporate issuers placed $6.9bn worth of Eurobonds in 14 deals in January-June 2019, almost as much as $7.8bn in 18 issues placed in 2018 overall, Vedomosti daily said on July 31 citing a study by PwC. The average issue size is up to $494mn versus $460mn in 2018.
As reported by bne IntelliNews, despite the publication of strong US GAAP financials for 2Q19, the shares of Yandex took a hit on July 26 after the introduction of the bill which is largely seen as an attack staged on Yandex.
See page 2
However, Russian issuers still lag behind the 2017 results, when a total of $20.6bn in Eurobonds was placed in 41 issues averaging $503mn.
See page 3