Nasdaq tells Yandex, other Russian firms of plan to delist stocks (updated)

Qiwi

15/03/2023 20:58

* 
      This content was produced in Russia where the law
restricts
coverage of Russian military operations in Ukraine
    

  
 (New throughout, adds information about other companies)
       MOSCOW, March 15 (Reuters) - 
    The Nasdaq stock exchange has informed Russian Internet
giant Yandex  YNDX.O  and e-commerce firm Ozon  OZON.O  that
their stocks will be delisted, the companies said on Wednesday,
more than a year after trading in their securities was
suspended. 
  
        Nasdaq suspended trading in the securities of a number
of companies operating in Russia days after Moscow despatched
tens of thousands of troops to Ukraine on Feb. 24, 2022. 
        Yandex and Ozon said they would appeal the decision.
Neither company has fallen under Western sanctions, although
some of Yandex's top management have. 
  
        Recruiter Headhunter  HHR.O  and payment service
provider Qiwi  QIWI.O  were also notified of their anticipated
delisting from Nasdaq, the two companies said. 
  
        "Nasdaq’s notice of determination does not affect the
company’s operations, services, financial position or ability to
meet all financial obligations to partners and other
counterparties," Yandex said in a statement. 
  
        Yandex, often dubbed "Russia's Google", has struggled to
balance domestic pressure with the interests of Western
investors and 
    sold
     its news feed and homepage to state-controlled rival VK
last year,
  
        Yandex's Dutch-registered holding company subsequently
announced plans to divest ownership and control of most of
Yandex Group, including its main revenue-generating businesses.
  

 (Reporting by Reuters; Editing by David Gregorio)