IPO Report

Yandex Shares Rocket In IPO

Shares of Russian search engine company Yandex gained more than 55% in its IPO debut on the NASDAQ.

Yandex.ru has roughly 65% of the search engine market in Russia.  The company, which is headquartered in The Netherlands, generates almost all of its revenues from online advertising. 

Yandex trades on the NASDAQ under the stock symbol YNDX.

YNDX shares closed the day at $38.84, gaining 55.36% from the initial public offering price.

Shares of VMware surged in it's IPO debut on Tuesday.  VMW closed up $22 from the IPO price to close at $51.

In an interview VMW CEO Diane Greene said the successful IPO will give the company the capital necessary to make acquisitions and other investments.

VMware's sales rose more than 70 percent last year, topping the $1 Billion mark.

EMC's software unit VMware is a step closer to an IPO debut.  Shares were priced at $29 on Monday, the high end of the range.

EMC will continue to control an 87% stake in the new company.  VMware's IPO will consist of Class A shares and EMC will retain Class B shares.  The Class B shares will have a 10:1 voting ratio to the Class A shares.  EMC will maintain control of 26.5 million shares of Class A common stock in addition to the total 300 million of Class B shares.

EMC acquired VMware in 2004 for $623 Million, making this IPO an incredibly lucrative deal for EMC as the IPO price values VMware at $10.9 Billion.

VMware will trade on the NYSE under the ticker symbol "VMW".

Zinc producer Horsehead Holding's initial public offering (IPO) of 4.86 million shares traded above their issue price of $18 in Fridays debut on the NASDAQ.    

Horsehead, which is based in Monaca, Pennsylvania, gained 60 cents to close at $18.60

        Horsehead trades on the Nasdaq under the symbol "ZINC."