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Edition: U.S. Article Comments (0) Slideshow Video Deals Yandex IPO oversubscribed 17 times: source Recipe for Yandex IPO hit: Genius, nerve, patience Key facts about Yandex and its planned IPO Glencore stuck below offer price on day one Chinese online retailer Vancl plans $1 billion IPO Nestle buys U.S. firm as part of food pharma drive Internet bubble brings back dubious metrics Deals wrap: Yandex confirms price Video: Russia Yandex IPO beats expectations Follow Reuters Facebook Twitter RSS YouTube Read Obama visits family roots in Ireland | 23 May 2011 Lauren, Scotty bring country to "American Idol" finale 6:02am EDT UPDATE 1-Pakistan media ridicules military after attack 8:37am EDT Obama to view tornado zone in Missouri on Sunday 8:19am EDT How did six Taliban hold off 100 security forces for 16 hours? 9:18am EDT Discussed 325 Obama and Netanyahu face tense meeting on Mideast 124 As hours tick by, ”Judgment Day” looks a dud 103 Broadcaster silent as Judgment Day hours tick by Watched Plankers get fired for stunt Sun, May 22 2011 Arnold Schwarzenegger's mystery woman identified Thu, May 19 2011 Deadly Missouri tornado captured on video Mon, May 23 2011 Yandex shares rise more than 40 percent on first day Tweet Share this NEW YORK (Reuters) - Shares of Russian Internet company Yandex NV rose more than 40 percent, the largest U.S. initial public offering in the Internet sector since Google Inc. The IPO of Russia's most popular search engine was about 17 times... Email Print Factbox Russia's Yandex ups pricing of Nasdaq IPO 9:25am EDT Related News Recipe for Yandex IPO hit: Genius, nerve, patience 9:33am EDT Russia's Yandex says "better than Google" 11:41am EDT Analysis & Opinion Internet bubble brings back dubious metrics Deals wrap: Jimmy Choo sold to Labelux Related Topics Technology » Deals » Global Deals Data 2011 Q1 » Hot Stocks » Asian Markets » Inflows Outflows » Related Video Russia Yandex IPO beats expectations 12:10pm EDT 1 / 4 Yandex founder and CEO Arkady Volozh (front, 2nd R) celebrates as Yandex is listed on the Nasdaq exchange during their IPO at the Nasdaq market site in New York, May 24, 2011. Credit: Reuters/Mike Segar NEW YORK | Tue May 24, 2011 11:41am EDT NEW YORK (Reuters) - Shares of Russian Internet company Yandex NV rose more than 40 percent, the largest U.S. initial public offering in the Internet sector since Google Inc. 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. In 2000, a group of private-equity investors led by Baring Vostok Capital Partners bought a 36 percent stake for just over $5 million. Unlike social-networking sites like LinkedIn, Yandex's business model, driven by online advertising, has generated strong growth in earnings. For the company to deliver on its growth proposition, however, it will have to defend its market share in Russian search, now at 65 percent against Google's 22 percent. Analysts say that the search engine devised by co-founders Arkady Volozh and Ilya Segalovich has a competitive advantage over Google, because it is better equipped to handle the grammatical complexities of the Russian language. Morgan Stanley, Deutsche Bank Securities and Goldman Sachs & Co led the underwriters on the offering. The shares rose to $35.11 in early trading, above the $25 IPO price. (Reporting by Clare Baldwin. Editing by Robert MacMillan and Derek Caney) Technology Deals Global Deals Data 2011 Q1 Hot Stocks Asian Markets Inflows Outflows Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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