 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
New York (AFP) May 24, 2011 Yandex shares rose sharply on Tuesday as Russia's top Internet portal and leading search engine made its debut on Wall Street. Shares in Yandex, which is being traded under the ticker symbol "YNDX," surged 44 percent to $36 within minutes of being quoted on the Nasdaq. Yandex, valued at $8 billion, is set to raise $1.3 billion through its initial public offering, the largest Internet IPO since Google's in 2004. According to its filing with the US Securities and Exchange Commission (SEC), Yandex is offering 52.2 million shares at $25 each with an option of selling an additional 5.2 million shares to cover over-allotments. Yandex is the first Russian company to carry out an IPO on the Nasdaq since 2006. In November Mail.ru -- Russia's largest free e-mail service -- raised $912 million on the London Stock Exchange. Yandex accounted for 64 percent of search traffic in Russia last year, besting Google and making it the largest Russian Internet company in revenue terms. Its website, yandex.ru, received 38.3 million unique visitors in March. Yandex reported profits of $134.3 million last year on revenue of $439.7 million. Yandex's IPO comes less than a week after career-focused social-networking firm LinkedIn staged a dazzling public launch of its own on Wall Street. LinkedIn shares more than doubled in price after launching on the New York Stock Exchange on Thursday, reviving concerns of the infamous dot-com boom.
Share This Article With Planet Earth
Related Links The Economy
Sony expects annual net loss of $3.2 billionTokyo (AFP) May 23, 2011 Japan's Sony on Monday said it expected to post a $3.2 billion net loss for the fiscal year ended March, after delaying its corporate results to gauge damage from the March 11 earthquake and tsunami. The expected third-straight annual loss for Sony comes as it tries to recover from the impact of the disasters and a massive online hacking attack that compromised millions of users of its netw ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
