The NASDAQ stock exchange announced that it was delisted, that is, several companies doing business in Russia were delisted from the stock exchange. This will affect Yandex, Ozone, HeadHunter, Qiwi, Cian, among other things. Thus, the stock market stops trading in the securities of these issuing companies.
“NASDAQ has decided to delist securities of a number of companies doing business in Russia, including Class A shares of Yandex,” the exchange said in a statement. delisting planned on March 24.
Formerly online retailer Ozone knowledgeableHe received a notification from NASDAQ that the exchange would forcibly delist American Depositary Shares (ADS).
“We believe that we have fully complied and continue to comply with all reporting obligations applicable to it since the suspension of trading on February 28, 2022, the Exchange’s qualitative and quantitative listing criteria, and all additional requests for information disclosure by the Exchange. ,” the press replied. – company services.
Ozon stressed that the online retailer “is not under sanctions imposed by US or EU authorities.” At the same time, it was noted that delisting “does not in any way affect the activities of the company and does not violate its financial stability” – business development will continue.
The company plans to appeal the decision by “requesting a special panel hearing within seven calendar days of notification.” The hearing is held within one and a half months from the date of receipt of the request.
“As the company reported in a press release dated March 4, 2022, trading on ADS Ozon was suspended by the Exchange on February 28, 2022, trading has not resumed since then,” Ozon said.
notification from NASDAQ accepted and Yandex. Like Ozone, this company plans to appeal the stock market’s decision.
“Whatever NASDAQ’s final decision, Yandex securities will continue to be traded on the Moscow Stock Exchange. Nothing will change for investors, trading will continue as usual,” – stated in the company.
Also, a possible delisting will not affect Yandex’s activities. “All services will operate as before, and settlements with partners will continue to be completed on time and in full. All previously announced joint support programs will remain in effect,” the press service said in a response.
The company recalled that NASDAQ suspended the sale of the company’s shares on February 28 last year, following the start of a special operation in Ukraine. “Neither Yandex NV nor other companies of the Yandex group are under EU, US or UK sanctions,” the organization said.
After freezing the sale of Yandex shares declarationThere is a technical risk of default as bondholders maturing in 2025 can then demand earlier repayments. At that time, it was about $1.25 billion, which was not in the company’s accounts. One way or another, many bondholders got together and demanded that the company pay the debt ahead of schedule.
Against the background of the delisting announcement of the NASDAQ exchange statedAs always, Yandex will continue to trade in HeadHunter, Ozon, Qiwi and Cian securities.
“Under the regulation of the Central Bank of Russia, issuers of foreign securities traded on the Moscow Stock Exchange will maintain the current listing level, provided they continue to disclose information,” the Moscow Exchange said in a statement.