engine - 4:49 pm on May 24, 2011 (gmt 0)
Yandex Goes Public With Shares Now Up To $35 Each
The IPO of Russia's most popular search engine was about 17 times oversubscribed, a source told Reuters. The intense demand for the shares comes on the heels of the IPO of U.S. professional networking company LinkedIn Corp, raising comparisons with the dot-com boom of the late 1990s.
Yandex raised $1.3 billion in its IPO on Monday by selling 52.2 million shares for $25 each. The offering valued the overall company at about $8 billion.
Yandex Roars From Russia With Possible $9B US IPO! [webmasterworld.com]