The share price of Yandex’s former parent company, which changed its name to Nebius Group (formerly Yandex NV), currently lost 24.93%, falling to $14.25 per share, according to trading data from 16: 30 Moscow time. By 17:18 Moscow time, the shares had risen to $16.64.
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The American Nasdaq resumed trading in Nebius Group shares on October 21 under the symbol NBIS. They have been suspended since February 2022.
Securities on the Moscow Stock Exchange and Nasdaq were previously traded under the symbol YNDX, and the Dutch company itself was called Yandex NV. In July the process of delisting from the Moscow Stock Exchange was completed and in August, Yandex NV changed its name to Nebius Group. NV as part of a business reorganization.
After the sale of the Russian assets, the company was able to return to the Nasdaq.
Last week, Nebius Group CEO and Yandex co-founder Arkady Volozh said returning to Nasdaq opens a new chapter for the company, which focuses on developing infrastructure for artificial intelligence. Volozh emphasized that Nebius Group expects to increase annual revenue to $170-190 million.
Author:
Nikolai Tikhonov
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.
