Yandex NV, registered in the Netherlands, has officially changed its name to Nebius Group, according to a filing submitted by the company to the US Securities and Exchange Commission (SEC).
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All trading in Nebius Group securities on the Nasdaq exchange is now carried out under the symbol NDIS. Prior to the name change, trading was carried out under the symbol YNDX.
On August 16, Nebius Group shareholders approved a share buyback. The company could spend around $857 million on the buyback, which could raise the proportion of publicly traded shares to 50%.
Nebius Group is headed by Yandex co-founder Arkady Volozh; the company was formed as a result of the restructuring of Yandex’s business. In July, Yandex NV sold its Russian business and MCPAO Yandex became its new parent company.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
