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.
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