4 Mar 2014 09:18

EuroPacific fund invests in Yandex

MOSCOW. March 4 (Interfax) - EuroPacific Growth Fund bought 6.626 million class A shares in Russian Internet company Yandex in the fourth quarter of 2013, the fund reported.

The market price of this stake was about $80 million on Monday evening. Class A shares in Yandex have one vote and, unlike class B shares, which have 10 votes, are traded on the stock exchange.

EuroPacific is part of the American Funds family managed by Capital Research & Management. Capital funds held a total of 24,342,459 Yandex shares at the end of 2013, which is equivalent to 7.4% of equity and 1.67% of votes.

Yandex's charter capital was split into 202,318,864 class A shares and 125,441,218 class B shares as of October 2013.