The Yandex company has filed an appeal against the decision to remove its stock from the Nasdaq listing, causing the Russian company to at least postpone the delisting, ending the company's ability to trade on the exchange.
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A hearing on the matter should take place within 45 days of the date of the appeal, according to Yandex. It is unlawful to exclude the company's shares until the outcome of the hearing.
Nasdaq sent a letter to a number of Russian businesses last Wednesday stating that their shares would be exempted from March 24, 2023. Additionally, Yandex announced that it would challenge this decision immediately on February 28, 2022.
Yandex said that its securities would remain traded on the Moscow Exchange despite Nasdaq's final judgment. "Nothing will change for investors, and trading will continue as usual," according to the Yandex press service.
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