American stock exchange NASDAQ has granted the appeal of Yandex and will not delist the company's shares of class A. This is stated in a press release of Yandex.
The Russian company received the delisting notice in March this year. The report says that NASDAQ took into account the arguments, which were given in the appeal, including those, which concern observance of investors' interests and the planned restructuring of the company. We shall remind, within the framework of restructuring the main part of Yandex business will be divided into a separate group of companies, the control over which will be retained by Yandex management.
According to the current decision of stock exchange NASDAQ, securities of "Yandex" will continue to be in the exchange list, but trading on them will remain suspended. Yandex shares are traded as usual on the Moscow Stock Exchange. The statement notes that the company will continue to consistently defend the interests of its shareholders.
Nasdaq stopped trading of shares of Yandex's parent company Yandex N.V. Feb. 28, 2022, because of events in Ukraine. Two weeks later, the exchange announced its decision to delist the securities of Yandex and several other Russian companies.
Source: Yandex
