Yandex will challenge the decision to delist its shares from the American exchange NASDAQ
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According to Yandex, the NASDAQ has decided to delist the securities of a number of companies, including Class A shares of Yandex, which have been trading on the US stock exchange since May 2011. The company does not agree with this measure and will challenge it by filing an appeal in the near future.
On February 28, trading in the company’s shares on NASDAQ was suspended due to a military operation in Ukraine, which affected not only Yandex, but also other issuers with their main business in Russia. Trading on the Moscow Exchange was also suspended, but was resumed at the end of March.
In 2014, the company’s shares began to be traded on the Moscow Exchange, which made it possible to expand the circle of investors and increase the liquidity of the securities. However, delisting on the NASDAQ may affect the company’s reputation and attractiveness to foreign investors. Yandex will fight to keep its shares on the US stock exchange.
Delisting of securities is the process of removing securities from trading on a particular exchange or market, as a result of which these securities can no longer be bought or sold on this exchange. A delisting can be caused by various reasons, such as a violation of the rules of the exchange, financial problems of the company, or a decision by the company to transfer trading to another market.
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