The American stock exchange Nasdaq satisfied Yandex’s delisting appeal, shares of the Russian company will continue to be traded on the site, Yandex said in a statement.
In March, Yandex received a delisting notice from Nasdaq. The company then filed an appeal. The hearing took place at the end of April.
The exchange took into account Yandex’s arguments, in particular, about observance of investor interests. Nasdaq also took into account the restructuring of the Yandex business.
In the fall, the company confirmed plans to restructure business management. Parent company Yandex NV will be split into a separate group, while Russia’s Yandex will be transferred to a new parent structure.
Bloomberg, citing sources, reported that Russian and international investors in Yandex will be offered three restructuring options.
The day before it became known that Nasdaq rejected the appeal of the Russian Ozon market. The decision to delist the company’s securities was also announced in March. The company intends to file an appeal again, until the final decision, Ozon’s papers will not be excluded from the exchange.
Author:
Natalia Gormaleva
Source: RB
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