Yandex N.V. Notified of Anticipated Delisting from The Nasdaq Stock Market

Rhea-AI Summary

The Nasdaq Stock Market (Nasdaq: NDAQ) announced that Yandex N.V. (Nasdaq: YNDX) will be delisted effective March 24, 2023, unless an appeal is filed. Trading of Yandex securities will remain halted until the appeal process is resolved. Nasdaq will submit a Form 25 to the SEC to finalize the delisting, which will take effect ten days post-filing. Following the delisting, Yandex securities may be available for trading on the over-the-counter market. For more details, interested parties are advised to review public filings or contact Yandex directly.

Positive

• N/A

Negative

• Yandex N.V.'s securities will be delisted from Nasdaq on March 24, 2023, limiting trading options.
• Current trading of Yandex securities is halted until appeal resolution.
• Potential over-the-counter market trading may not provide sufficient investor confidence.

NEW YORK, March 15, 2023 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market (Nasdaq: NDAQ) announced today that it has notified Yandex N.V. (Nasdaq: YNDX) that its securities will be delisted from the Nasdaq Stock Market LLC on March 24, unless the company appeals to a Listing Qualifications Hearings Panel. The securities will remain halted, and unavailable to trade, until any appeal is resolved, and the securities are removed from Nasdaq. Following removal from Nasdaq the securities may be eligible for trading in the over-the-counter market. 

Nasdaq will file a Form 25 with the Securities and Exchange Commission to complete the delistings. The delistings become effective ten days after the Form 25 is filed. For news and additional information about the companies, including the basis for the delisting and whether the companies’ securities are trading on another venue, please review the companies’ public filings or contact the company directly.

For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com. Nasdaq’s rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq Web site: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.

-NDAQO-

FAQ

What does the Nasdaq announcement about Yandex (YNDX) entail?

Nasdaq has informed Yandex N.V. that its securities will be delisted effective March 24, 2023, unless an appeal is filed.

When will Yandex (YNDX) be removed from the Nasdaq?

Yandex's delisting from Nasdaq will take effect on March 24, 2023.

What happens to Yandex securities after delisting from Nasdaq?

After delisting, Yandex securities may be eligible for trading in the over-the-counter market.

Will trading of Yandex (YNDX) resume before the delisting?

No, trading of Yandex securities remains halted until the appeal process is resolved.

What formal action will Nasdaq take to delist Yandex (YNDX)?

Nasdaq will file a Form 25 with the SEC to complete the delisting of Yandex securities.