Russian internet search firm Yandex's initial public offering was oversubscribed by 17 times, a source said, as analysts predicted big price gains when its stock starts trading on the U.S. Nasdaq exchange on Tuesday. Yandex's $1.3 billion offering, the biggest U.S. internet listing since Google Inc (GOOG.O) went public in 2004, comes on the heels of last week's blowout float by networking site LinkedIn Corp (LNKD.N) amid demand reminiscent of the dot.com boom. "The LinkedIn share price doubled on the first day of trading," said David Ferguson, an equity analyst at Renaissance Capital in Moscow. "We think the Yandex share price could potentially increase in the first couple of days after the IPO, due to the high oversubscription rate."
Google Inc. (Google) is focused on improving the ways people connect with information. Shares of GOOG remained unchanged at $518.39. In the past year, the shares have traded as low as $433.63 and as high as $642.96. On average, 2789260 shares of GOOG exchange hands on a given day and today's volume is recorded at 1550.
Feeling a bit disconnected to the business world? LinkedIn wants to help. Shares of LNKD remained unchanged at $88.3. In the past year, the shares have traded as low as $80.00 and as high as $122.70. On average, 14383800 shares of LNKD exchange hands on a given day and today's volume is recorded at 27432.
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