Yandex files appeal against Nasdaq decision to delist its shares

MOSCOW. March 21 (Interfax) - Yandex has filed an appeal against the decision of the American Nasdaq stock exchange to delist the shares of the Internet company.

The hearing on the appeal must take place within 45 days from the date of filing. Delisting of shares cannot be carried out before a ruling in the appeal is made, Yandex said.

On March 15, Nasdaq announced the delisting as of March 24, 2023 of the shares of a number of companies whose main business operations are located in Russia. In addition to Yandex, Headhunter , Qiwi , and Ozon received notifications. On the same day, the New York Stock Exchange announced the start of the delisting procedure for Cian Plc (Cian service) as well.

Trading in Yandex securities on the Nasdaq has been suspended since February 28, 2022 due to the Russian special military operation in Ukraine.

Trading in Yandex shares on the Moscow Exchange continues as usual.