Russia's IT giant Yandex said on Tuesday that is has filed an appeal against the decision of the NASDAQ exchange to delist its shares, and expects that a hearing on the appeal will take place within 45 days
MOSCOW (Pakistan Point News / Sputnik - 21st March, 2023) Russia's IT giant Yandex said on Tuesday that is has filed an appeal against the decision of the NASDAQ exchange to delist its shares, and expects that a hearing on the appeal will take place within 45 days.
On March 15, the NASDAQ exchange decided to delist the securities of a number of companies doing business in Russia, including Yandex Class A shares. Later, the Moscow Exchange (MOEX) said that securities of Yandex, as well as other delisted companies, will continue to be traded.
"Yandex has filed an appeal against NASDAQ's decision to delist the company's Class A shares. Yandex received the notification of delisting on March 15. The appeal hearing is expected to take place within 45 days of filing. According to the rules of the exchange, delisting cannot be carried out while the review is underway. The company's securities have not been traded since February 28, 2022," the company said in a statement.
