MOSCOW (Pakistan Point News / Sputnik - 16th March, 2023) The NASDAQ exchange has decided to delist the securities of a number of companies doing business in Russia, including Yandex class A shares, the company is appealing this decision, Yandex said in a statement.
"The Company intends to request a hearing (the "Hearing") before a Nasdaq Hearings Panel (the "Panel") to appeal the Staff's determination. Yandex N.V.'s Class A shares will remain listed on Nasdaq pending the outcome of the Hearing," the company added.
A possible delisting will not affect Yandex's operations, all services will work as usual, regardless of the final decision of NASDAQ, the company's securities will continue to be traded on the Moscow Exchange (MOEX), the company said.
Earlier on Wednesday, the NASDAQ exchange decided to delist the securities of a number of companies doing business in Russia, including Class A shares of Yandex.
