Nasdaq to delist Russian Yandex and other tech companies

The Nasdaq has notified Russian tech giant Yandex and four other major internet companies say their shares will be delisted this month unless they appeal the stock market decision.

Nasdaq and the New York Stock Exchange stopped all listings of Russian companies in the days following the February 2 invasion of Ukraine by Russian troops. 24, 2022.

Nasdaq said it notified Yandex, the e-commerce platform Ozonethe payment service provider QIWIjob search site head hunter and the real estate database Cianplans to delist their securities on March 24.

“The securities will remain suspended and unavailable for trading until any appeal is resolved and the securities are removed from Nasdaq,” the company said Wednesday.

yandexRussia’s largest search engine that also offers popular services such as taxi and food delivery apps, and Ozone have vowed to appeal Nasdaq’s decision.

Both companies said the early Nasdaq delisting would not affect their operations or financial condition.

Russian companies escaped Western sanctions following the invasion of Ukraine, with Yandex’s senior management resigning after facing personal sanctions.

The Moscow Stock Exchange said it would continue to trade the shares of Russian companies as usual “provided they continue to disclose information”.

Yandex, Ozon, QIWI, HeadHunter and Cian stocks fell up to 3% when markets open on Thursday.

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