Russia's Yandex.Taxi may issue new shares in IPO, says top shareholder

Russia's Yandex.Taxi may issue new shares in IPO, says top shareholder

Signs for the Yandex.Taxi online booking service sit on taxi cabs operated by the Nexi taxi service, a unit of ASAP Transportation Co., in a parking bay in Moscow, Russia. Photographer: Andrey Rudakov/Bloomberg

Russia’s largest online taxi service Yandex.Taxi is likely to sell new shares in its planned initial public offering (IPO), an executive at its majority shareholder Yandex told Reuters.

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