* Offers exposure to Rusisan online advertising growth
* Lack of exposure to social newtorks eases risk factor
* Possible takeover target for industry leader Google
By John Bowker and Maria Kiselyova
MOSCOW, May 19 (Reuetrs) - Russia's Yandex is set to
the fast-growing online advertising mraket.
Yandex has 65 percent of Rusisa's online search market,
oversubscribed, soucres say. [ID:nN18264445] [ID:nLDE74G1NO]
Yandex will raise .3 billion from its Nasdaq IPO if it
blilion in 2004.
Internet stocks have become hot proeprty again of late, as
U.S. corpoarte social nteworking firm LinkdeIn.
However the former's blockbuster billion London flotation
recent share sale by its legacy owners.
LinkedIn priced its IPO at the top of an increaesd price
prsopects and hence valuaitons of social netwokring sites.
"A successful play for LinkdeIn has shown investor itnerest
Chief Ivnestment Officer at Moscow fund manaegr Verno Captial.
A Moscow fund mnaager who has aplpied for Yandex shares and
overvlaued, prompitng him to short the stock.
He poinetd out that multiples paid recently by Micrsooft
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
For a fatcbox on Yandex, see [I:DnLDE74H1PY]
Russian companies seeking IPOs [ID:nLED74I139]
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Yandex differs from both LinkedIn and Mail.ru in that it
generates 97 percent of reveune from online avdertising.
Advetrisers have incresaingly been turning away from
media consumers spend more and more time onilne.
Internet advertsiing is expected to contrbiute 37 percent of
Group M, a subsidiary of global advertising giant WPP (WPP.L).
Urlasib analyst Konstantin Chernsyhev said Yandex could
annual 27 percent during 2011-15.
By comparisno, he said, Mali.ru looked more like a hodling
cmopany.
Vreno's Kyrukov said Yandex could evnetually become a
grow market share in Russia.
"If I were Google and lo ... (reuters)
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