IPJSC Yandex shares begin trading on Moscow Exchange on July 10, Yandex NV securities cease trading same day

MOSCOW. May 14 (Interfax) - Shares of IPJSC Yandex are set to begin trading on the Moscow Exchange on July 10, and the shares of Yandex N.V . (YNV) will cease trading, be delisted, on the same day, the trading platform said.

Trading in YNV shares will also be limited on the platform as of June 14, Yandex said in a press release.

The Moscow Exchange has also changed the timeframe for including the IPJSC's shares in the list of those admitted to trading to July 8 instead of May 15. The IPJSC's shares will trade on the first tier in the list of securities under the YDEX ticker.

Shareholders of Yandex N.V., the company's current parent structure, approved its restructuring on March 7. Restructuring particularly involves selling Yandex's Russian business for 475 billion rubles to Consortium.First, which is a closed-end mutual fund consortium of private investors.

Yandex at the end of April reported that it expected the first stage of the deal to close "in the coming weeks".