Yandex says considering listing on another global bourse

MOSCOW, Apr 27 (PRIME) -- Russian Internet company Yandex is considering joining another international bourse because of suspension of trading on Nasdaq and restrictions on the Moscow Exchange, the company said on Wednesday in a quarterly statement.

“We are currently reviewing alternative options in order to provide our shareholders the ability to trade our shares, including considering the possibility of listing on another international stock exchange in due course,” Yandex said.

Nasdaq and the New York Stock Exchange suspended trading in the securities of several companies with material operations in Russia, including Yandex N.V. Class A shares, on February 28.

“Trading in the shares on Nasdaq remained halted as of the reporting date and we have no visibility on when and whether trading may be resumed,” the company said.

Trading on the Moscow Exchange was halted on February 28 and resumed on March 29, yet non-Russian shareholders are not permitted to sell shares on the bourse.

“Moreover, because the international settlement systems remain closed for trading in rubles and in any securities of Russian businesses, it is currently not possible for trades to settle between shareholders that acquired our shares on Nasdaq and investors on the Moscow Exchange, and the volume of our shares available for trading on the Moscow Exchange is limited,” Yandex said.

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