MOSCOW (Pakistan Point News / Sputnik - 22nd March, 2023) Payment service Qiwi said on Tuesday that it had filed a request for an oral hearing to challenge the decision of the Nasdaq stock exchange to delist the company's shares.
On March 15, the Nasdaq Stock Market decided to delist Qiwi's American Depositary Shares on March 24 amid Russia's ongoing military operation in Ukraine.
"Qiwi, a leading provider of cutting-edge payment and financial services in Russia and the CIS (Commonwealth of Independent States), announces that it has filed a request for an oral hearing to challenge Nasdaq's delisting decision," the company said.
The company added that during the course of the delisting proceedings, trading would remain suspended and the delisting decision would not be confirmed.
